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
Sebi imposes Rs 1 cr fine on Anmol Ambani in Reliance Home Finance case (23-09-2024)
Technical Breakout Stocks: Vodafone Idea, Adani Total Gas and SBFC Finance hit fresh record highs; what investors should do (23-09-2024)
In terms of sectors, buying activity was observed in oil and gas, realty, energy, auto, consumer durables, and utilities. However, IT stocks experienced declines during the day.
Ghee adulteration affects farmers badly, says Sodhi (23-09-2024)
Says the onus is also on the buyer to ensure that the product being bought is not adulterated
NPST – Technology Provider for UPI Tech (23-09-2024)
If management explanation is true (short term blip in revenue due to ongoing up-gradation process of EvoK 2.0 platform which will help them in long term revenue growth) then this was a great buying opportunity. Q2 – con-call is going to be very interesting. Before con-cal stock may have bottomed out for now
Titan Company Ltd : a three decade old company (23-09-2024)
For anyone who is tracking this company for a long time…Was Titan in SME Segment before it became a Small Cap-Mid-Large Cap
Sebi imposes Rs 1 cr fine on Anmol Ambani in Reliance Home Finance case (23-09-2024)
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.
EPFO records all time highest addition of 19.94 lakh net members in July 2024 (23-09-2024)
Union Minister of Labour & Employment and Youth Affairs & Sports released EPFO’s provisional payroll data of July 2024 in New Delhi today. He mentioned that EPFO has added 19.94 lakh net members in the month of July 2024, marking the highest recorded increase since payroll data tracking began in April 2018. EPFO added 10.52 lakh new members in July 2024, representing a 2.66% increase over June 2024 and a 2.43% rise compared to July 2023. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs.
PGINVIT impairment of investments in subsidiaries and book value (23-09-2024)
It is best to stay away from Powergrid INVIT because of capital depreciation with low transparency in growth and whats next.
Though dividend yield is attractive, you may end up losing capital.