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Reliance Petroleum: SEBI Imposes A Objective proper-searching Of Rs 15 Crore On Mukesh Ambani

Reliance Petroleum: SEBI Imposes A Objective proper-searching Of Rs 15 Crore On Mukesh Ambani

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Commodity market regulator Securities and Exchange Board of India (SEBI) on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as properly as two other entities for allegedly indulging in manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) encourage in November 2007. Fines of Rs 25 crore and Rs 15 crore had been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Moreover, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and salvage of RPL shares in the cash and the futures segments in November 2007. This adopted RIL's resolution in March 2007 to promote 4.1 per cent ...