Mumbai: Security Exchange Board of India (SEBI) has imposed fine on Reliance Industries (RIL), it’s chairman and managing director Mukesh Ambani and two other entities. The fine of Rs 25 crore and Rs 15 crore have been imposed on RIL and Ambani.
It was imposed for alleged manipulative trading in the shares of erstwhile Reliance Petroleum (RPL) back in November 2007.
Apart from this penalty of Rs 20 crore has been imposed on Navi Mumbai SEZ and 10 crore on Mumbai SEZ.
According to the media report, the issue is related to the buy and sale of RPL shares in cash and future segments in November 2007.