SEBI has issued demand notices totaling Rs 154.5 crores to RHFL's promoter

Psu Connect Date: 31-10-24

SEBI has issued demand notices to six entities, including Reliance Home Finance's promoter entity, requiring them to pay Rs 154.50 crore for fund diversion. The entities have 15 days to comply or face asset and bank account attachment.

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These entities include Crest Logistics, Reliance Unicorn Enterprises, Reliance Exchange Next, Reliance Commercial Finance, Reliance Business Broadcast News Holdings, and Reliance Cleangen. This follows their failure to pay fines imposed by SEBI in August. If dues aren't paid, SEBI will recover the amount by selling their movable and immovable properties, along with attaching their bank accounts.

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