The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case …
India’s markets regulator on Friday fined Reliance Industries Ltd and its chairman and managing director Mukesh Ambani a total of ₹40 crore for alleged manipulation in the trading of Reliance Petroleum Ltd’s securities. According to Sebi’s order, RIL executed a well-planned operation with its agents to make undue gains from the trading of its erstwhile listed unit, RPL which was …
