SAT upholds Sebi order penalising RIL, 2 execs

May 3, 2025

The Securities Appellate Tribunal (SAT) has upheld SEBI’s ₹30-lakh penalty on Reliance Industries and two compliance officers for delayed disclosure of Facebook’s Jio Platforms stake purchase in 2020. SEBI’s investigation revealed news of the deal circulated in March and April 2020, prior to RIL’s official announcement on April 22.

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