SAT sets aside SEBI order imposing penalty of ₹25 crores on Reliance Industries

The tribunal observed that the appellants had not violated SEBI takeover regulations as alleged and hence the imposition of penalty on the company was without any authority.
Reliance Industries Ltd., SEBI
Reliance Industries Ltd., SEBI

The Securities Appellate Tribunal (SAT) recently set aside a penalty of ₹25 crores imposed by the Securities and Exchange Board of India (SEBI) on Reliance Industries and its promoters including Mukesh Ambani, Anil Ambani and 8 other entities for alleged violation of the takeover regulations.

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