The tribunal has directed Ambani to deposit 50 per cent of the penalty amount and asked Sebi to file a reply in the matter within four weeks. “There should be no recovery of the penalty amount subject to 50 per cent of deposit within four weeks,” said Justice P.S. Dinesh Kumar.
In an order dated August 22, Sebi had alleged siphoning off of funds from RHFL by doling out loans to borrowers linked with the promoters.
Sebi had imposed a total penalty of ₹625 crore on 26 entities.
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