Mukesh Ambani, chairman of Reliance Industries Limited, will appeal against the fines imposed by market regulator SEBI in a two-decade-old share irregularity case.
Mukesh Ambani, chairman of Reliance Industries Limited, will appeal against the fines imposed by market regulator SEBI in a two-decade-old share irregularity case. The company gave this information on Thursday. Read more- Mukesh, Anil, Nita and Tina Ambani fined Rs 25 crore, find out what is the matter?
In 1994, Reliance Industries Limited (RIL) issued a debenture in lieu of these warrants by issuing convertible warrants and allocating equity shares in 2000. This happened when Dhirubhai Ambani was leading Reliance. Reliance Group was not divided then. Read more – World’s richest man 2021: Jeff Bezos becomes world’s richest man for fourth time in a row, Mukesh Ambani also on the list
According to the information filed in the stock market, RIL said, “In February 2011, SEBI had issued a reasoned notice in this case. The notice was issued to the promoters and promoters of this period 11 years after the acquisition of the shares. It was accused of violating SEBI’s acquisition rules. Read more – Forbes list of richest people: Forbes releases rich list, Mukesh Ambani at number one, Adani at number two
The notice to buy the shares has now been decided which comes 21 years after the acquisition of the shares. The promoters of the company were fined Rs 25 crore at that time. Among the campaigners, Mukesh and Anil Bhai and others have both been fined. After that, after the death of his father, Mukesh and Anil split into organizations.
The CBI has fined Ambani Bhai and other family members of the preacher. In the January 2000 issue, Reliance Industries increased its joint venture by about seven percent and imposed fines for failing to provide regulatory information.