InvestorQ : What is the fine that SEBI has put on Mukesh Ambani and what is likely to be the response?
Anu Biswas made post

What is the fine that SEBI has put on Mukesh Ambani and what is likely to be the response?

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Ria Jain answered.
8 months ago
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The case dates back to 1994, 2000 and 2011, all the same case. RIL had issued debentures with convertible warrants in 1994 leading to allotment of shares in 2000. After a gap of 11 years, SEBI had issued show-cause notice in 2011 for violation of takeover regulations. After another 10 years, SEBI has imposed a penalty of Rs.25 crore on Mukesh Ambani and others.

The SEBI allegation has been that in 2000 the Ambani family raised their shareholding in RIL by 7% without proper regulatory disclosures to the shareholders or to the regulator. RIL claims this issue has been settled and consequently Mukesh Ambani will appeal the fine imposed by SEBI in the appellate tribunal or another appropriate forum.

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