SC upholds 30L fine on RIL over lapse in disclosing Jio-FB deal
SC upholds 30L fine on RIL over lapse in disclosing Jio-FB deal
The Supreme Court upheld SEBI's Rs 30 lakh fine on Reliance Industries for delayed disclosure of the Jio-Facebook deal. Justices Kant and Bagchi emphasized that listed companies must clarify speculative media reports to prevent market manipulation. The court stressed that larger entities bear greater responsibility for adhering to disclosure norms, dismissing RIL's appeal.
The Supreme Court upheld SEBI's Rs 30 lakh fine on Reliance Industries for delayed disclosure of the Jio-Facebook deal. Justices Kant and Bagchi emphasized that listed companies must clarify speculative media reports to prevent market manipulation. The court stressed that larger entities bear greater responsibility for adhering to disclosure norms, dismissing RIL's appeal.
The Supreme Court upheld SEBI's Rs 30 lakh fine on Reliance Industries for delayed disclosure of the Jio-Facebook deal. Justices Kant and Bagchi emphasized that listed companies must clarify speculative media reports to prevent market manipulation. The court stressed that larger entities bear greater responsibility for adhering to disclosure norms, dismissing RIL's appeal. 
