RELIANCE INDUSTRIES LIMITED (RIL) ORDERED TO DISGORGE ₹ 4,472 MILLION – WHAT EXACTLY HAPPENED
The Supreme Court on Tuesday dismissed an appeal by Reliance Industries Limited (RIL) against an order of the Securities Appellate Tribunal (SAT) that upheld a ₹30 lakh penalty imposed on two of its compliance officers for failing to make timely disclosures related to the Facebook-Reliance Jio deal. (RELIANCE INDUSTRIES LIMITED V. SEBI) A Bench of Chief Justice of India Surya Kant and Justice Joymalya Bagchi held, "The issue dealt with by SEBI and SAT are substantially a question of fact, giving rise to no substantial question of law to be considered by court."
