Following an investigation, SEBI found several serious discrepancies and lapses in the way Ambani’s company Reliance Home Finance had disbursed loans, including to related parties.
The market regulator charged them with diversion of funds; also fined Ambani $3 million for orchestrating a scheme to ‘siphon off’ funds from Reliance Home Finance Ltd.
Lease was given in 2009 for a period of 30 years. Govt is also thinking of paying off dues on condition that Ambani's firm pay back so that the airports can be restarted, he adds.
The probe pertains to the alleged possession of undisclosed assets abroad and the linked movement of funds. Anil Ambani is expected to reappear before the ED later this week.
SEBI in February had issued a retraining order on founder Ambani and other top executives of a group entity, Reliance Home Finance, for allegedly diverting funds to repay debt.
Reliance Capital joins a long list of Indian shadow banks that have keeled over since the sudden collapse of infrastructure financier IL&FS Group in September 2018.
Since 1979, Iran has used the Palestinian issue as a façade for its regional agenda to oppose American diplomacy, the Western world, and the existence of Israel.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
Raj Kapoor’s mother used to tell him, when he was a child, A mother cannot share her Naseeb equally amongst her children, although she loves them equally.
Raj Kapoor’s mother used to tell him, when he was a child, A mother cannot share her Naseeb equally amongst her children, although she loves them equally.