 "Mukesh Ambani, chairman of Reliance Industries Limited")
The Securities Appellate Tribunal (SAT) on Wednesday granted interim relief to Reliance Industries (RIL) by allowing the company to take exposure to equity derivatives via mutual funds (MFs), provided it met certain conditions.
The tribunal was hearing an appeal submitted by the Mukesh Ambani-led company against market regulator Securities and Exchange Board of India (Sebi) order, barring the company from accessing the derivatives market for a period of one year.
In the order dated March 24, Sebi had also asked the company to disgorge Rs 447 crore, with 12 per cent interest since 2007, it made "illegally".
SAT gave an
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