Case Law Details
Case Name : Re. Reliance Petroleum Ltd. (RPL) (SEBI)
Related Assessment Year :
Courts :
SEBI
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Relevant Extract
5. Conclusions:
5.1 Going by the facts narrated by Noticee No. 1, liquidation of 5 % stake was decided. The same had to be done in an orderly manner. There was no outer time fixed for liquidation. Being guided by the analysts’reports and the price trends of the scrip, Noticee No. 1 decided to start the sale in November 2007. Before the sale in the cash segment started, Noticee No. 1, booked positions in the F&O segment to the extent of 9.92 crore shares by entering into agreements with 12 entities for a commission payment. Entrusting a common person to carry out the trad...
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One Comment
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IT IS A GOOD ACT AND THE BENIFIT WILL GO TO THE SHERE HOLDERS,