What were the options available to Anil Ambani following the SEBI Ban?

SEBI Anil Ambani order: Experts believe that SAT would take little time to hold or give a stay to the SEBI ban order.

Anil Ambani news:  After the action by the Securities and Exchange Board of India, banning the Reliance Anil Dhirubhai Ambani Group for five years, its CMD, Indian business person Anil Ambani, may not deal in any way, either directly or indirectly, with the securities market. However, SEBI’s order in RIFL loan scam is not the end for Anil Ambani. He can challenge the order of SEBI in the Securities Appellate Tribunal and plead for a stay on the SEBI ban order dated 22nd August 2024. According to the view expressed by market experts, there are chances that Anil Ambani may move SAT against the SEBI’s order anytime now since Saturday and Sunday were non-working days. SEBI ban’s Short Selling.  

They further added that SAT would take little time to hold or give a stay to the order of SEBI. So, the Reliance Industries  ADAG stocks are supposed to remain highly volatile soon.

SEBI banned List of Promoters. 
SAT option for Anil Ambani Speaking on the SAT action that Anil Ambani may take after SEBI’s ban, Awanish Kumar Mishra, Founder of the Center for Financial Inclusion and Planning, said, “In compliance with the SEBI order dated 22nd August 2024, para 75(iii), Anil Dhirubhai Ambani resigned from the post of Director of listed companies. He has been fined ₹25 Crore. He can move against SEBI above Order in Securities Appellate Tribunal (SAT), Mumbai and plead for stay over execution of this order.” “When the NSE co-location scam, NSE had also moved to SAT on the very next date of the SEBI’s crackdown, and SEBI gave a stay on SEBI order on the same date of NSE’s appeal,” said Mishra when asked as to when it expected the SAT to deliver its verdict.

Hence, I would expect the same velocity to be carried through to the end by SAT if Anil Ambani were to exercise this SAT option and challenge the SEBI order that banned him from the security market for five years.

SEBI Banned

Reliance ADAG stocks in focus Avinash Gorakshkar

Head of Research at Profitmart Securities, said, “Though Anil Ambani’s next move is not clear, it looks clear that Reliance ADAG stocks may remain highly volatile in the next few sessions. However, his hurried attempts have only made Anil Ambani run all very fast as arranging cash for the operation will become extra hard for the entire ADAG company. However, if he stays against the SEBI order, some relief rally in ADAG company shares may be expected. Investors are advised to remain away from these shares and look at some other stocks.”

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