This chapter examines the regulatory scrutiny faced by Anil Ambani, asserting that the moratorium under the Insolvency and Bankruptcy Code does not exempt him from responsibility. It also addresses the Supreme Court's approval of a resolution plan for Reliance Home Finance Limited, outlining the implications for investors and the uncertain path forward for stakeholders.
On August 23rd, the Securities & Exchange Board of India (SEBI) slapped ADAG Chairman Anil Ambani and its associated 24 entities with a combined penalty of ₹624 crores for allegedly siphoning off funds. And if you’re wondering why and what Anil Ambani had to say in defense, in today's episode for 27th August 2024, we offer you a simplified take on the saga.
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