SEBI Rejects Anil Ambani’s Plea in Yes Bank Loan Fraud Case, Faces ₹18.28B Fine

SEBI: The Securities and Exchange Board of India (SEBI) said in its investigation that this investment was made in exchange for loans taken from Yes Bank to other companies of the Anil Ambani Group. Rejecting Ambani's plea to settle the matter without admitting guilt, the regulator said in its order on July 7, the loan fraud in Yes Bank caused a loss of Rs 18.28 billion to investors and it had a huge impact on the market.

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