Sebi holds RIL arm guilty of F&O trade manipulation, imposes Rs 7,00,000 fine
Sebi) has held Reliance Strategic Investments Ltd, a subsidiary of Reliance Industries, guilty of manipulation while trading in long dated Nifty options in 2017, and has imposed a fine of Rs 7,00,000. The said amount of penalty needs to be paid within 45 days of the receipt of this order, the regulator said.
The regulator had investigated the trades done in the long-dated Nifty50 options between Reliance Strategic Investments and Morgan Stanley (France) SA in August 2017, to ascertain violation of trading practices. On conclusion of the investigation, it was observed that RIL arm and Morgan Stanley had traded in longdated Nifty put options expiring on December 28, 2017, having a strike price of 11400, at a price significantly away from the intrinsic value.
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