Capital markets regulator Sebi has asked six entities, including Reliance Home Finance Ltd (RHFL) and former company officials, to pay Rs 129 crore for the illegal diversion of funds from the firm.
The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days.
Sebi sent notices to Reliance Home Finance, Ravindra Sudhalkar, Amit Bapna, Pinkesh Shah, Phi Management Solutions Pvt Ltd and Adhar Project Management and Consultancy Pvt Ltd in the case.
The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August this year.
In six separate notices, Sebi directed these six entities to pay the amount in the range of Rs 6.25 lakh to Rs 28.08 crore, which includes interest and recovery costs within 15 days.
In the event of non-payment of dues, the market regulator will recover the amount by attaching and selling the moveable and immovable property