Insider Trading – Reliance Mukesh Ambani Vs Rajaratnam of Galleon Hedge Fund – Difference is SEBI
Reliance Industries Ltd led by Mukesh Ambani has been charged with Insider Trading of Reliance Petroleum prior to its merger with RIL in 2007. Now Business Line reports that,
The company has proposed a payment of Rs 2 crore towards settlement of the case, sources confirmed. SEBI is understood to have assessed the gains from the alleged insider trading at Rs 513 crore.
Is it notevident that RIL under Mukesh Ambani is accepting to the charges and that is why they have proposed a settlement of Rs 2 cr for making Insider Trading profits of Rs 513 cr [USD 110 mn]. Read more
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