It is of Public Knowledge that Mukesh Ambani & Group, inherited Promoter of Reliance Industries Ltd involved in one of the most unethical corporate practices of Insider Trading in his own company shares prior to merger of Reliance Petroleum Ltd with the former. SEBI the stock market watchdog did uncover the insider trading scam. However, it has been over 2 years now that SEBI constantly reports the matter is under investigation.
We asked SEBI on what is the maximum number of years it can keep investigating a case it has undertaken after which it will dispose it off ? and SEBI replies that there is no such thing but it takes all possible steps to complete investigation.
Will SEBI ever bring the culprits to book ? Or Is this another example of Chalta Hai attitude and moving on ?