Sebi asks 5 entities to pay Rs 130 cr in Reliance Home fund diversion case

Quick Summary:

Sebi on Monday asked five entities, including Netizen Engineering and Citi Securities and Financial Services, to pay Rs 130 crore for the illegal diversion of funds from Reliance Home Finance Ltd.

Those who have sent notices are Netizen Engineering Pvt Ltd, Gamesa Investment Management Pvt Ltd, Vinayak Ventures Pvt Ltd, Deep Industrial Finance Ltd and Citi Securities and Financial Services Pvt Ltd.

In five separate notices, the markets watchdog directed these five entities to pay Rs 26 crore each which includes interest and recovery costs within 15 days.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Sebi norms Reliance Home fund diversion case Reliance Home finance Sebi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 22:48:36 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 686 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23402059

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