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Why did SEBI bar Anil Ambani from stock markets?
Finshots Daily
Beware the Evergreening of Funds
Loans misrepresented as general purpose working capital loans were utilized in a circular funding scheme, known as evergreening. This deceptive practice involved companies closely connected to the Chairman, which lacked substantive assets to support their financial standing. The situation escalated with the sudden resignation of the company's statutory auditor in June 2019, raising further concerns about the integrity of financial operations.
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