india’s reliance industries penalized for alleged fraud
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

India’s Reliance Industries penalized for alleged fraud

Arab Today, arab today

Arab Today, arab today India’s Reliance Industries penalized for alleged fraud

New Delhi - Arab Today

India’s markets regulator has barred Reliance Industries and 12 others from trading in equity derivatives for a year for alleged fraudulent trades made 10 years ago.
The multibillion-dollar Reliance Industries rejected the ruling by the Securities and Exchange Board of India (SEBI) and said it would appeal the order.
In its ruling late Friday, the securities regulator said that the fraud is related to the 2007 sale of a 5-percent stake in subsidiary Reliance Petroleum when it was a separately listed company. The company used unlawful TRADE PRACTICES to profit from that sale, the ruling said.
The regulator said Reliance made about Rs5 billion ($76 million) in profits from that and has asked it to give up nearly Rs4.5 billion along with 12 percent interest within 45 days.
According to the Press Trust of India (PTI), SEBI official G. Mahalingam said that that he passed the order “in order to protect the interest of the investors” and make them trust the regulatory system.
“The noticees may, however, square off or close out their existing open positions,” the order said.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s reliance industries penalized for alleged fraud india’s reliance industries penalized for alleged fraud

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s reliance industries penalized for alleged fraud india’s reliance industries penalized for alleged fraud

 



GMT 11:28 2017 Saturday ,15 April

President Al-Bashir's visit to Kuwait and Bahrain

GMT 07:51 2017 Sunday ,26 November

HRH Crown Prince condoles with Egyptian President

GMT 14:35 2018 Friday ,12 October

Bahrain's media history documentation hailed

GMT 11:45 2017 Friday ,29 December

10 bodies found in mass grave in Myanmar

GMT 08:44 2016 Monday ,19 December

Hopeless Afghan struggle to save boy sex slaves

GMT 15:15 2013 Friday ,05 July

I breathe freedom in Jordan

GMT 12:55 2016 Sunday ,18 December

Kerry in likely last visit with Saudi king

GMT 05:49 2017 Wednesday ,24 May

Indian police make arrests after mobs lynch 8

GMT 12:12 2017 Sunday ,19 February

More South Sudanese officials quit unity gov't

GMT 09:25 2017 Wednesday ,09 August

Ghada Abdel Raziq prefers exciting drama

GMT 15:03 2017 Saturday ,14 October

HM King congratulates French President

GMT 22:10 2017 Wednesday ,03 May

Boosting Bahraini-Czech relations discussed

GMT 12:43 2017 Thursday ,30 November

Saudi prince freed in 'billion-dollar deal'

GMT 03:55 2017 Friday ,17 November

Al-Hilal's Eduardo looking to lead from the front

GMT 03:26 2017 Saturday ,18 November

Tesla's all-electric semi truck
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday