SEBI Imposes HUGE Fine On Ambani Brothers
As a market regulator it is the responsibility of SEBI to keep an eye on everything happening in the market.
For that matter if anything seems to be fishy then SEBI has to take action over that.
The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 25 crore on the Ambani family and firms linked to the promoter group.
The penalty has imposed by SEBI on Ambani brothers (Anil Ambani, Mukesh Ambani) for violation of takeover code regulations in the year 2000.
The promoter stake in january 2000 had increased by 6.83% following conversion of warrants issued in 1994.
The penalty of Rs 25 crore will have to be jointly paid by the 34 individuals and entities who were allotted the warrants in the year 1994.
These include brothers Mukesh and Anil Ambani, their mother, wife and children.
Today in this video we are going to have a detailed discussion on why SEBI imposed Penalty of Rs25 Crore Ambani Brothers.
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