Saturday, 25 March 2017

Sebi passes Rs 447-cr disgorgement order against Reliance Industries

The Securities and Exchange Board of India (Sebi) on Friday directed Mukesh Ambani’s Reliance Industries Ltd (RIL) to disgorge Rs 447.27 crore, made “unlawfully” by dealing in shares of its erstwhile subsidiary, Reliance Petroleum (RPL). The markets regulator also barred RIL from the futures and options (F&O) segment for a year and asked it to settle all existing open positions. It will also have to pay 12 per cent interest on the disgorgement amount since November 29, 2007.


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