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Anil Ambani Banned from Markets for 5 Years, Fined Rs 25 Crore: SEBI Calls Him the Mastermind of Fraud Scheme.

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Photo: TOI

SEBI Takes Action Against Questionable Loans, pointing On Anil Ambani and Reliance Home Finance.

Anil Ambani and Reliance Home Finance Limited (RHFL) have been severely punished by the Securities and Exchange Board of India (SEBI) for authorizing dubious loans to parties associated with the firm without doing adequate due diligence. SEBI has slapped Ambani with a big fine of Rs 25 crore and barred him from the securities market for five years. RHFL and some of its top executives are also getting penalized.

Investigative Findings: Ambani’s Involvement and Loan Irregularities

The investigation says Ambani was behind a scam where Reliance Home Finance gave loans to his associates, labeling them as working capital loans during the 2018–2019 fiscal year. These loans, totaling Rs 8,470 crore, didn’t go through proper checks.

The SEBI order noted that funds structured as General Purpose Working Capital (GPC) loans were transferred to entities linked to the Reliance ADA Group. The manner in which these loans were disbursed was described as abrupt and highly irregular. Moreover, there was evidence that senior officials actively pushed for these loans, showed little interest in recovering the amounts, and that Ambani was directly involved in approving them.

SEBI’s findings pointed to a pattern indicating that these loans were intended for Ambani’s benefit, either directly or indirectly.

Independent Reports Back SEBI’s Findings

Reports from Price Waterhouse & Co., RHFL’s statutory auditor, and Grant Thornton, a forensic auditor hired by Bank of Baroda, RHFL’s primary lender, corroborated SEBI’s findings. Price Waterhouse outlined issues that prompted it to stop auditing RHFL, pointing to the company’s other procedural failings as well as a dearth of meaningful answers to its questions. Due to its position, the company even received threats of legal action.

Grant Thornton’s report found similar discrepancies and pointed out suspicious reclassifications of borrower entities from related to non-related parties just before loan disbursements. Eight entities, which initially appeared to be related to the Reliance group, were shown as unrelated shortly before receiving loans totaling Rs 1,323.43 crore.

Broader Penalties

SEBI’s order impacts 28 individuals and entities, including RHFL, Anil Ambani, several Reliance ADA group companies, and other key management personnel. RHFL has been prohibited from participating in the securities market for six months, while Ambani and 26 others face a five-year ban.

RHFL faces fines of Rs 5 lakh, Anil Ambani faces fines of Rs 25 crore, Amit Bapna, the CFO of RHFL, faces fines of Rs 27 crore, and CEO Ravindra Sudhalkar faces fines of Rs 26 crore. All companies involved in this notice face fines of Rs 25 crore each.

This major regulatory action makes it very evident that SEBI is committed to upholding accountability and transparency in the securities industry and makes it very apparent that corporate malfeasance will not be accepted.

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Delhi Power Cut Alert for June 7: Full List of Affected Areas and Outage Timings.

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Several parts of Delhi may face temporary electricity cuts on Sunday, June 7, due to planned repair and maintenance work on the power network.

People living in the affected areas should charge their phones, laptops, power banks, and other important devices before the scheduled shutdown period begins.

Areas Likely to Face Power Cuts

Mundka

9:00 AM to 11:00 AM

11:00 AM to 1:00 PM

12:00 PM to 2:00 PM

Tagore Garden

11:00 AM to 1:00 PM

Nangloi

11:00 AM to 2:00 PM

anakpuri

10:00 AM to 12:00 PM

Hauz Khas

9:00 AM to 10:30 AM

Power officials said the work is being carried out to keep the electricity system in good condition and help ensure a smoother supply in the coming months.

Advice for Residents

People in these localities should plan their day in advance and complete important tasks before the shutdown starts. It may also help to keep emergency lights, charged batteries, and power banks ready.

If residents face any power-related issue outside the announced timings, they can contact the customer support team of their electricity company.

Power Cuts Reported Across Delhi on June 6

Many areas of Delhi also saw electricity interruptions on Saturday, June 6, due to repair work and system improvement activities.

Palam, Janakpuri, Mundka, Saket, Sarita Vihar and Nangloi were some of the localities that were affected at different hours of the day.

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Delhi-NCR’s Old Trucks and Buses Are in Focus as Centre Clears Rs 9,585 Crore Plan

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The Centre has cleared a new Rs 9,585 crore programme aimed at reducing pollution from older trucks and buses operating across Delhi-NCR. Approved by the Union Cabinet on Wednesday, the two-year initiative is designed to speed up the shift towards cleaner and less-polluting vehicles in one of the country’s most polluted regions.

Officials say the transport sector remains a major source of poor air quality in Delhi-NCR. While heavy commercial vehicles account for only a small share of the total number of vehicles on the roads, they release a disproportionately high amount of harmful pollutants. Trucks and buses together make up roughly 3 percent of the vehicle fleet but are linked to more than one-third of PM2.5 emissions generated by road transport.

Government estimates show that older heavy vehicles release significantly more pollution than newer models. According to officials, a heavy-duty vehicle operating under emission standards older than BS-VI can pollute as much as several newer vehicles combined. Even BS-IV vehicles produce far higher emissions than those meeting the latest norms.

To address this issue, the new scheme will encourage owners of BS-IV commercial vehicles to move to BS-VI-compliant or electric alternatives. The programme does not cover vehicles owned by government departments.

A package of financial benefits has been prepared to make the switch more attractive. Vehicle owners will be eligible for lower borrowing costs through a five-year interest subsidy on loans. They may also receive fuel support through monthly vouchers, with the amount varying by vehicle category. Additional one-time incentives will be available for those choosing electric vehicles or participating in certificate trading mechanisms.

State governments joining the programme will offer their own set of benefits. These include removing registration charges and providing long-term relief on motor vehicle taxes. New vehicle buyers could receive full tax exemptions, while purchasers of used vehicles may qualify for partial concessions. Authorities will also clear outstanding dues attached to old vehicles brought into the scheme.

The Centre’s contribution to the programme will be Rs 5,041 crore, while participating states are expected to provide support through tax-related relief estimated at around Rs 1,601 crore.

Funding will be routed through the National Capital Region Planning Board under the Ministry of Housing and Urban Affairs. Delhi, Haryana, Rajasthan and Uttar Pradesh will work together on implementation.

Official figures indicate that transport activities are responsible for a sizeable share of pollution across the region, contributing around 14 percent of PM2.5 levels, 40 percent of carbon monoxide emissions and nearly two-thirds of nitrogen dioxide emissions.

More than 2 lakh commercial vehicle owners are expected to fall within the scheme’s scope, including nearly 1.91 lakh truck owners and over 16,000 bus operators.

The benefits will not be available for BS-III or older vehicles. Such vehicles will have to be dismantled at authorised scrapping centres. Owners of BS-IV vehicles, however, can either send them for scrapping or transfer them to locations outside NCR where air quality norms permit their use.

Those seeking benefits under the programme must replace their old vehicles with a new BS-VI-compliant or electric vehicle and register it within NCR. Delhi will follow stricter rules, requiring light goods vehicles purchased under the scheme to be fully electric. Buses, meanwhile, will be allowed only if they run on BS-VI CNG technology or electricity.

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91 Illegal Colonies in Yamuna Floodplain Come Under Court Focus

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Image source: NDTV

The Delhi High Court has raised serious concerns over continued construction activity inside the Yamuna floodplain and signaled that government officials may be held responsible if fresh violations are found. The court said development of residential areas within Zone O remains a matter of concern due to the area’s environmental importance.

While hearing the matter, the court observed that new structures appear to be coming up despite restrictions in place. It questioned how such activity could continue without the knowledge of local authorities. To fix responsibility, the court asked for details of executive engineers handling the affected areas and directed them to remain present at the next hearing.

The bench of Justice Prathiba M. Singh and Justice Manmeet Pritam Singh Arora stated that officers who fail to prevent fresh violations could face legal action.

Records placed before the court showed that dozens of unauthorized colonies already exist inside Zone O. Although these settlements have not received legal status, they are currently covered by temporary relief granted under a special law applicable in Delhi. This protection remains valid until the end of December 2026.

In its submission, the Ministry of Housing and Urban Affairs clarified that residents living in these colonies are protected from certain enforcement measures for a limited period. However, the arrangement does not give them ownership rights over the properties they occupy.

The ministry further informed the court that the population living across these settlements is estimated to be between five and six lakh people, spread across roughly one lakh homes. Officials also said discussions are taking place among the Centre, the Delhi Government and other departments regarding future plans for the area and possible rehabilitation measures.

The judges made it clear that no additional structures should come up in the floodplain. They instructed the Delhi Development Authority (DDA) to keep a close watch on construction activity and ensure that repair work is not misused to put up completely new buildings.

The matter gained attention after photographs submitted to the court showed fresh building activity at several locations, including Jagatpur, Wazirabad, Ram Ghat and New Aruna Nagar near Majnu Ka Tila.

To address the issue, the court asked representatives from the Ministry of Housing and Urban Affairs, the Municipal Corporation of Delhi (MCD) and the DDA to meet on June 8. The agencies have been told to prepare a report explaining what action has been taken to stop new encroachments and deal with illegal structures in the floodplain. The report will be reviewed during the next hearing.

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