Market regulator Sebi on Wednesday imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000.
Others penalised by the watchdog include Nita Ambani, Tina Ambani, K.D. Ambani and other family members. Nita is the wife of Mukesh Ambani and Tina is Anil Ambani’s spouse.
RIL’s promoters and Persons Acting in Concert (PAC) failed to disclose the acquisition of more than 5 per cent stake in the company way back in 2000, Sebi said in its 85-page order.
