Sebi imposed a penalty of ?25 crore on Ambani and prohibited him from holding any position in listed companies or intermediaries regulated by Sebi for five years. The market regulator also barred RHFL from the securities market for six months and imposed a fine of ?6 lakh on the company. The 222-page final order revealed that Ambani, leveraging his position as chairperson of the ADA Group, manipulated RHFL’s management to approve loans worth hundreds of crores to entities with little or no financial credibility. This fraudulent scheme led to significant defaults by RHFL, ultimately triggering the company’s resolution under the RBI Framework and causing substantial losses to public shareholders.

In March 2018, RHFL's share price was around ?59.60, but by March 2020, as the extent of the fraud became evident, the price plummeted to ?0.75. Over 9 lakh shareholders remain invested in RHFL, suffering significant losses.

Sebi also fined former RHFL officials—Amit Bapna, Ravindra Sudhalkar, and Pinkesh R Shah—?27 crore, ?26 crore, and ?21 crore, respectively. Additionally, penalties of ?25 crore each were imposed on other entities, including Reliance Unicorn Enterprises, Reliance Exchange Next Ltd, and Reliance Big Entertainment Private Ltd, for their roles in facilitating the illegal diversion of funds. This decisive action underscores Sebi’s commitment to safeguarding market integrity.

Sebi imposed a penalty of ?25 crore on Ambani and prohibited him from holding any position in listed companies or intermediaries regulated by Sebi for five years. The market regulator also barred RHFL from the securities market for six months and imposed a fine of ?6 lakh on the company. The 222-page final order revealed that Ambani, leveraging his position as chairperson of the ADA Group, manipulated RHFL’s management to approve loans worth hundreds of crores to entities with little or no financial credibility. This fraudulent scheme led to significant defaults by RHFL, ultimately triggering the company’s resolution under the RBI Framework and causing substantial losses to public shareholders.

In March 2018, RHFL's share price was around ?59.60, but by March 2020, as the extent of the fraud became evident, the price plummeted to ?0.75. Over 9 lakh shareholders remain invested in RHFL, suffering significant losses.

Sebi also fined former RHFL officials—Amit Bapna, Ravindra Sudhalkar, and Pinkesh R Shah—?27 crore, ?26 crore, and ?21 crore, respectively. Additionally, penalties of ?25 crore each were imposed on other entities, including Reliance Unicorn Enterprises, Reliance Exchange Next Ltd, and Reliance Big Entertainment Private Ltd, for their roles in facilitating the illegal diversion of funds. This decisive action underscores Sebi’s commitment to safeguarding market integrity.