RPL case: SAT quashes SEBI's order against Ambani, 2 others
New Delhi, December 4
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by SEBI on Reliance Industries’ chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007.
The ruling has come after all the entities appealed before the tribunal against the order passed by the SEBI in January 2021.
In January 2021, SEBI imposed a Rs 25-crore fine on Reliance, Rs 15 crore on Ambani, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
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