Business
SEBI imposes fine on Mukesh Ambani, RIL for ‘manipulative trading’ – The Tribune India
SEBI has imposed a penalty of Rs 25 crore and Rs 15 crore, respectively, on Reliance Industries and its chairman, Mukesh Ambani, for manipulative trading
Mumbai, January 2
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 25 crore and Rs 15 crore, respectively, on Reliance Industries (RIL) and its chairman, Mukesh Ambani, for manipulative trading.
The SEBI order observed that RIL had entered into a well-planned operation with its agents to corner the open interest in the RPL (Reliance Petroleum) futures and to earn undue profits from the sale of RPL shares in both cash and futures segments and to dump large number of RPL…
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