Sebi bans Reliance Industries, 12 others from trading in equity derivatives

Also asks RIL to disgorge Rs 447 cr plus interest in a 10-yr-old case involving Reliance Petroleum

Market regulator Securities and Exchange Board of India (Sebi) on Friday imposed a one-year ban on Reliance Industries and 12 others from trading in equity derivates.

Sebi also asked RIL to disgorge Rs 447 crore, plus interest, in a 10-year-old case involving the erstwhile group’s listed arm Reliance Petroleum. The interest on the penalty imposed on RIL could work up to Rs 54 crore at 12 per cent a year. 

In 2007, RIL, the promoter of Reliance Petroleum, had used agent entities to first sell the shares in futures & options (F&O) segment before selling in cash, netting Rs 513