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SEBI’s Penalty On Mukesh Ambani: What’s At Risk?
SEBI vs Ambani: Will the argument ‘I didn’t know’ by the managing director of a listed company pass legal muster?
08 Jan 2021, 02:03 PM IST
India’s securities market regulator has passed a fresh order in the 2007 Reliance Petroleum Ltd. case. This time SEBI has imposed a penalty of Rs 25 crore on Reliance Industries Ltd. and Rs 15 crore on promoter Mukesh Ambani.RIL had indulged in fraudulent trade practices with respect to the RPL share sale transaction and Ambani, as its managing director, was “responsible for the manipulative activities of the company”, the adjudicati...
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