Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
SEBI fines Reliance Industries and other parties over 2007 trading
Fine or penalty
India's Securities and Exchange Board imposed penalties on Reliance Industries Limited, its chairperson Mukesh Ambani, Navi Mumbai SEZ and Mumbai SEZ over alleged manipulation of Reliance Petroleum share trading in November 2007. The regulator's order described the trades as fraudulent and said they harmed other investors.
India’s Securities and Exchange Board imposed penalties on Reliance Industries Limited, its chairperson Mukesh Ambani, Navi Mumbai SEZ and Mumbai SEZ over alleged manipulation of Reliance Petroleum share trading in November 2007. The regulator’s order described the trades as fraudulent and said they harmed other investors.
Source excerpt
The Securities and Exchange Board on Saturday imposed penalties on Reliance Industries Limited, its Chairperson Mukesh Ambani and two other entities for allegedly manipulating share trading of Reliance Petroleum Limited in November 2007.
The order said that before undertaking sale transactions in the cash segment, RIL fraudulently booked large short positions in the RPL futures by appointing 12 agents with whom it had entered into an agreement to circumvent position limits for a commission payment.
Reliance Industries Limited, or RIL, and Ambani were fined Rs 25 crore and 15 crore, respectively. Mumbai SEZ was asked to pay 10 crore, while Navi Mumbai SEZ was penalised Rs 20 crore.
2021
SEBI fines Reliance Industries over RPL share trades
Fine or penalty
In a 2021 order, the Securities and Exchange Board of India (SEBI) imposed a Rs 25 crore penalty on Reliance Industries over alleged manipulative trading in shares of the erstwhile Reliance Petroleum (RPL) in November 2007. According to the order, the trades affected the price of RPL securities and harmed other investors. The penalty concerns the alleged manipulation of RPL share trades during that period.
SEBI imposed a Rs 25 crore penalty on Reliance Industries over alleged manipulative trading in erstwhile Reliance Petroleum shares in November 2007. The order said the trades affected the price of RPL securities and harmed other investors.
Source excerpt
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007.
Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively.
The execution of the... fraudulent trades affected the price of the RPL securities in both cash and F&O segments and harmed the interests of other investors,
2018
English commercial court foreign-act-of-state ruling
A commercial court in England and Wales considered litigation connected with Reliance and the Union of India and addressed the application of the foreign-act-of-state doctrine in circumstances also involving arbitration.
2002
Krishna-Godavari gas production and regulatory disputes
Reliance's gas discovery and subsequent production became the subject of disputes involving output, pricing, contracts and the government's oversight of natural resources. The episode included litigation and arbitration involving Reliance and the Union of India.