Tribunal sets aside Sebi's Rs 13 cr fine on Reliance

December 16, 2015 14:32

The Securities Appellate Tribunal today set aside a penalty of Rs 13 crore imposed by Sebi on corporate giant Reliance Industries Ltd and asked the markets regulator to consider the matter afresh.

The fine was imposed by the regulator last year on charges of violation of the Listing Agreement by RIL with regard to disclosure and computation of a key earnings ratio by the company.

The latest direction follows another SAT ruling earlier this month wherein the tribunal had set aside a penalty of Rs 11 crore imposed on RIL group firm Reliance Petroinvestments Ltd and had asked the regulator to pass order within three months after hearing the matter afresh.

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