ACTION AGAINST ANIL AMBANI DOES LITTLE TO REPAIR DAMAGE TO REGULATORY OVERSIGHT
CRONY CAPITAL FATTENS ITSELF WITH HELP FROM PLIABLE ENFORCEMENT, COMPLIANCE
2024-08-27 12:07
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Industrialist Anil Ambani has been barred from the securities market for a period of five years for perpetrating what SEBI describes as a 'fraudulent scheme' that led to diversion of funds from a group company. SEBI's move, ostensibly a robust response to alleged fraudulent practices involving the diversion of funds from Reliance Home Finance, stands in stark contrast to the regulatory leniency observed in cases involving other influential business conglomerates. This discrepancy has triggered perceptions of selective enforcement, particularly given the broader context of crony capitalism and the intricate ties between major business figures and the government.