Explore Business Standard
Jai Anmol Ambani
The CBI has booked the son of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) in a case of alleged cheating in Union Bank of India that caused a loss of Rs 228 crore to the public bank, officials said on Tuesday. The CBI acted on a complaint from the bank (erstwhile Andhra Bank) against Reliance Home Finance Ltd., Jai Anmol Anil Ambani and Ravindra Sharad Sudhakar, both directors in RHFL, they said. The company had availed credit limits to the tune of Rs 450 crore from the bank's SCF branch in Mumbai for business needs, the complaint stated. The bank had laid down the condition to maintain financial discipline including timely repayment, service of interest and other charges and submission of position of security and other required papers in time and routing the entire sale proceeds through the bank account. The company failed to pay the instalments to the bank and hence, the said account was classified as a non-performing asset (NPA) on ...
Markets regulator Sebi on Monday imposed a penalty of Rs 1 crore on Anmol Ambani, son of industrialist Anil Ambani, for his failure to exercise due diligence while approving general-purpose corporate loans in Reliance Home Finance matter. Additionally, the regulator levied a fine of Rs 15 lakh on Krishnan Gopalakrishnan, who was the Chief Risk Officer of Reliance Housing Finance. Both have been directed to pay the amount within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. The order came after Sebi, in August, barred Anil Ambani and 24 others from the securities market for five years in a case pertaining to diversion of Reliance Home Finance Ltd's funds. Also, a fine of Rs 25 crore was levied on him. In its order on Monday, Sebi noted that Anmol Ambani, who was on the board of Reliance Home Finance, had approved general-purpose corporate loans or GPCL loans, and that too after the company's board of directors had given clear direction not to go ahead