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MUMBAI, June 30 (Reuters) - An Indian securities tribunal
upheld on Monday the 110 million rupees ($1.83 million) penalty
imposed on a unit of Reliance Industries Ltd by
India's market regulator for insider trading.
The ruling was made by the Securities Appellate Tribunal, an
independent quasi-judicial body that rules on appeals against
orders passed by the Securities Exchange Board of India (SEBI).
Its decision are binding, but can be appealed to the Supreme
SEBI had fined Reliance Petroinvestments Ltd 110 million
rupees ($1.83 million) last year, accusing the unit and parent
company Reliance Industries of insider trading in a transaction
involving a separate company.
($1 = 60.0600 Indian Rupees)
(Reporting by Himank Sharma; Editing by Miral Fahmy)