Скачать или смотреть SEBI IMPOSES 25 CRORE PENALTY ON MUKESH AMBANI, ANIL AMBANI FOR IRREGULARITIES IN RIL SHAREHOLDING

#RIL #penalty #sebi
The penalty has been imposed jointly and severally on Mukesh Ambani, Anil Ambani, Nita Ambani, Tina Ambani and fifteen other members of the Ambani Family and few Reliance entities.

The penalty has to be deposited within a period of 45 days.

Some of the noticees, such as Mukesh Ambani's children Akash Ambani and Isha Ambani, and Anil Ambani's son Jayanmol Ambani, were minors on the date of the violation, January 7, 2000.

Referring to Section 8 of the Hindu Minority and Guardians Act, the SEBI held that Mukesh and Anil were the natural guardians of their children. Hence, they were liable on account of the violation in respect of the shares held by their children, who were minors on the date of violation.

"I note that the respective Noticees who are the Natural Guardians of the aforesaid minor Noticees are responsible not only on their own behalf but also on behalf of the minors", the Adjudicating Officer said in the order