The Securities and Exchange Board of India has fined Jai Anmol Ambani, son of industrialist Anil Ambani, ₹1 crore for failing to exercise due diligence while approving general purpose corporate loans (GPCLs) in the Reliance Home Finance case. It also imposed a fine of ₹15 lakh on Krishnan Gopalakrishnan, the former chief risk officer of Reliance Home Finance, for his involvement in the approvals.

Both Anmol Ambani and Gopalakrishnan were found to be in violation of Sebi’s listing obligations and disclosure requirements and were directed to pay their fines within 45 days of the order.

In August, Sebi barred Anil Ambani and 24 others from the securities market for five years for diverting Reliance Home Finance Ltd’s funds and fined him ₹25 crore.