SEBI imposes penalty for alleged manipulative trades on RIL, Mukesh Ambani & 2 Other entities

In re Reliance Industries Ltd (SEBI)

It was observed by RIL has entered into a scheme of manipulative trades in respect of the sale of 5% of RIL stake in RPL. However, before undertaking sale transactions in the Cash Segment, RIL fraudulently booked large short positions in the RPL November Futures through 12 Agents with whom it had entered into an agreement to circumvent position limits for a commission payment. As a result, RIL fraudulently cornered nearly 93% of open interest in RPL November Futures, when the said 12 Agen

Please become a Premium member. If you are already a Premium member, login here to access the full content.