About Us  |   Contact Us  |   Register  | Login  |   

Follow HedgeWorld on Twitter HedgeWorld on LinkedIn






HEDGEWORLD NEWS
Search the News
Advanced News Search
HedgeWorld News by Region
United States / Americas
Europe
Asia / Australia
International
HedgeWorld News Sections
Managed Futures & Derivatives
Daily News
Regulatory/Legal
Strategies/Analysis
Technology
Opinion
People
Indexes
Other News Features
Most Popular
LexisNexis Headlines
Reuters Headlines
The HedgeWorld Blog
Alternative Advantage Daily Newsletter
RSS Service
Sign Up For Email News Alerts
Reprints



RPT-India's tribunal upholds insider trading penalty on Reliance unit
06/30/2014 Email this story  |  Printable Version

(Repeats to attach to alert with no changes to text)

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 Court.

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)


Email This Story to a Friend   |   Display Printable Version of This Story

Story Copyright © 1999-2014 Reuters HedgeWorld All rights reserved.

HedgeWorld News is sponsored by:






Lipper    Privacy   User Policy  Legal Disclosure Copyright/DMCA  Site Map    FAQ    Glossary  Thomson Reuters for Hedge Funds
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of HedgeWorld content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. HedgeWorld is a registered trademark of Thomson Reuters.