SEBI Issues ₹26 Crore Notice to Reliance Big Entertainment in RHFL

On November 14, 2024, The capital market regulator, the Securities and Exchange Board of India (SEBI), instructed Rbep Entertainment to pay the dues within 15 days or risk asset attachment.

SEBI Cracks Down on Fund Diversion 

SEBI prohibited industrialist Anil Ambani and 24 others from participating in the securities market for five years earlier this year due to alleged fund diversion from Reliance Home Finance Limited (RHFL).

In early November, SEBI also issued demand notices to six entities, including Crest Logistics and Engineers (now CLE Pvt Ltd), the promoter entity of RHFL, seeking ₹154.50 crore.

Meanwhile, earlier this month additional notices were issued to six entities, including RHFL and former officials of the company, demanding payment of ₹129 crore in penalties.

Last week, SEBI directed Mohanbir Hi-Tech and Indian Agri Services to pay ₹52 crore in penalties for unlawfully diverting funds from Reliance Home Finance Limited (RHFL).

About RBEP Entertainment

Reliance Big Entertainment Private Ltd is an entertainment firm offering a range of services including internet, digital media, film production, communications, radio programming, gaming, movies, animation, music, and broadcasting. The company caters to customers across India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.