Sebi directed Reliance Industries to pay Rs447.27 crore along with an annual interest of 12% dating back to 29 November 2007, which translates into a penalty of around Rs1,300 crore. Photo: ReutersMumbai: Investors of Reliance Industries Ltd (RIL) on Monday have lost over Rs12,500 crore market value after market regulator penalized the company for unlawful transactions and imposed a one year ban on it and 12 other entities from trading in equity derivatives. During the day, the Reliance Industries shares touched a low of Rs1,247.10 and fell as much as 3.04%. Also Read| Sebi bans Reliance Industries from equity derivatives market for a yearSEBI directed Reliance Industries to pay Rs447.27 crore along with an annual interest of 12% dating back to 29 November 2007, which translates into a penalty of around Rs1,300 crore. In 2007, RIL sold a 4.1% stake in RPL, but to prevent a slump in the RPL stock, the shares were sold first in the futures market and later in the spot market, covering the share sales in the futures market.

Source: Mint March 27, 2017 06:02 UTC