 "A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar. Photo: Reuters")
Market regulator Securities and Exchange Board of India (Sebi) on Friday passed an order against Reliance Industries, the country's second most valuable firm, asking it to disgorge Rs 447 crore made illegally, along with interest of 12 per cent per annum since November 2007. We explain the various aspects of the case:
What is the alleged fraud by Reliance Industries?
In March 2007, the board of directors of Reliance Industries decided to sell the company's five per cent stake in Reliance Petroleum. The sale was done in multiple tranches in the month of November through open market transaction —-
What is the alleged fraud by Reliance Industries?
In March 2007, the board of directors of Reliance Industries decided to sell the company's five per cent stake in Reliance Petroleum. The sale was done in multiple tranches in the month of November through open market transaction —-
