SEBI Fines Ambani and RIL

Photo: Bar and Bench

SEBI Fines Mukesh Ambani, RIL With Rs 40 Crore Over Insider Trading

The market regulator SEBI has fined Mukesh Ambani and Reliance Industries Ltd (RIL) with Rs 15 crore and Rs 25 crore respectively against the charges of insider trading. The SEBI said that while divesting 4.1% of its stake in Reliance Petroleum, the RIL first sold it in the futures market and later to the spot marker; hence, qualifying for insider trading. The SEBI also fined two Mumbai-based entities with Rs 30 crore.

Sat, 02 Jan 2021 - 11:08 AM / by Richa Nigam

Tags: Mukesh Ambani, SEBI, RIL, Mumbai SEZ Ltd, Insider Trading

Courtesy: The Indian Express