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SEBI imposes Rs 25 crore penalty on Mukesh, Anil Ambani and ors for violation of Takeover Regulations
SEBI had conducted an investigation into alleged irregularities relating to the issue of 12 crore equity shares in January 2000 by Reliance Industries.
The adjudicating officer (AO) of the Securities and Exchange Board of India (SEBI) has imposed a joint penalty of Rs. 25 crore on Mukesh and Anil Ambani along with their family members for violation of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.