SEBI levies ₹1 crore fine on Anil Ambani's son in Reliance Home Finance case

The Securities and Exchange Board of India (SEBI) imposed a ₹1 crore penalty on Jai Anmol Ambani, son of industrialist Anil Ambani, for failing to exercise due diligence in approving General Purpose Corporate Loans (GPCLs) while serving as a non-executive director of Reliance Home Finance Ltd (RHFL). SEBI found that Jai Ambani approved loans to promoter-related entities without proper oversight, violating SEBI’s Listing Obligations and Disclosure Requirements (LODR). Additionally, a ₹15 lakh fine was imposed on Krishnan Gopalakrishnan, the former Chief Risk Officer of RHFL. This action follows SEBI’s earlier decision to bar Anil Ambani and others from the securities market for fund diversion. The ruling highlights SEBI’s commitment to enforcing corporate governance standards and accountability in financial transactions.