SEBI Slaps Rs 30 Lakh Penalty on Vedanta and Rs 7 Lakh Fine on RIL Subsidiary

  • Investing.com
SEBI Slaps Rs 30 Lakh Penalty on Vedanta and Rs 7 Lakh Fine on RIL Subsidiary
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Vedanta (NS: VDAN )

The markets regulator Securities and Exchange Board of India (SEBI) has filed a penalty of Rs 30 lakh on the mining major Vedanta on alleged violations of the regulator’s provisions of ‘LODR Regulations’.

SEBI said in its latest order that Vedanta violated the provisions of LODR Regulations due to failure of providing correct disclosures to the media, including misrepresentation on the company’s website.

The regulator stated in a 24-paged order that a fine of Rs 30 lakh was slapped on Vedanta on account of failure to provide correct disclosures. 

“All these events may lead one to cast aspersions on the intent of the company to host the press release on its website,” SEBI noted.

Reliance Strategic Investments

The subsidiary company of the conglomerate giant Reliance Industries (NS: RELI ), Reliance Strategic Investments Ltd (RSIL), has been slapped with a fine of Rs 7 lakh by SEBI for allegedly manipulating trades done in the long-dated NIFTY Options in 2017.

SEBI investigated to ascertain whether there was any violation by Reliance Strategic Investments and Morgan  Stanley (France) SA or ‘MSF’ while trading in long-dated NIFTY Options for December 2017 expiry for the alleged box-trades on trade dates, July 31, August 8, and August 10, 2017, on the NSE.

The investigation was conducted from July 31, 2017, till the expiry day of the contract, that is Dec 28, 2017.

It was found in this investigation that RSIL and MSF did trade in long-dated NIFTY Put Options expiring on December 28, 2017, at a price significantly away from its intrinsic value. 

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  • Og vlogs @Og vlogs
    maja agaya 💸
    Like 0
  • Vikram Wagh @Vikram Wagh
    How to trade “at a price significantly away from intrnsic value”
    Like 0
  • Radhe Radhe @Radhe Radhe
    IN INDIA SEBI IS TOO GOOD ...AFTER 6 YEARS THEY FINED RELIANCE ...SEE HOW FOOLISH SEBI....
    Like 4
    • Radhe Radhe @Radhe Radhe
      correct..sebi inspection why so late after 6 years
      Like 3
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