SEBI Issues ₹26 Crore Notice to Reliance Big Entertainment for Alleged Fund Diversion in RHFL Case

The Securities and Exchange Board of India (SEBI), which oversees the capital markets, has hit Reliance Big Entertainment with a ₹26 crore demand notice. Why? For failing to pay penalties tied to the alleged diversion of funds involving Reliance Home Finance Ltd (RHFL).

This notice includes interest and recovery costs and comes with a strict deadline—15 days to pay up. SEBI didn’t mince words: if the payment isn’t made, they’ll seize assets, including bank accounts.

This isn’t the first such action from SEBI. In the past, they instructed RHFL’s promoter groups—like Crest Logistics, Netizen Engineering Pvt Ltd, and others—to cough up ₹154.50 crore. Earlier this month, another six entities, including RHFL and its former executives, were ordered to pay ₹129 crore in penalties. And the list goes on: two firms, Mohanbir Hi-Tech and Indian Agri Services, were fined ₹52 crore for their role in RHFL’s fund mismanagement.

Back in August, SEBI made a big move by banning Anil Ambani, the industrialist, and 24 other related entities from the securities market for five years. They accused Ambani of masterminding a scheme to siphon funds from RHFL, disguising them as loans to connected companies. SEBI’s 222-page report pointed to massive governance failures at RHFL. It also revealed that the company’s management ignored repeated warnings from the board of directors to stop shady lending practices.

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Reliance Big Entertainment Pvt Ltd (now called Rbep Entertainment Pvt Ltd), Reliance Unicorn Enterprises, and several others were fined ₹25 crore each for their involvement. SEBI has made it clear—if Reliance Big Entertainment doesn’t pay within the 15-day window, their assets will be seized.

The penalties don’t stop there. SEBI also fined other Reliance-linked entities, such as Reliance Exchangenext Ltd, Reliance Commercial Finance Ltd, and Reliance Cleangen Ltd, ₹25 crore each for similar violations.

SEBI summed it up bluntly: RHFL’s management blatantly ignored board directives to stop risky loans, which points to serious governance breakdowns influenced by Anil Ambani’s leadership. Just last week, SEBI told six entities tied to RHFL, including former company officials, to pay ₹129 crore in fines. And on Tuesday, the regulator imposed another ₹52 crore penalty on Mohanbir Hi-Tech and Indian Agri Services for their roles in the RHFL fund diversion scandal.