Reliance Industries’ Chairman Mukesh Ambani began his new year with a fine of Rs 15 crore on himself and Rs 25 crore on his oil-to-telecom conglomerate for ‘manipulative trading’ done in shares of Reliance Petroleum Limited in 2007. The capital markets regulator, Securities and Exchange Board of India (SEBI), in a 95-page order, said that Mukesh Ambani being the Managing Director of RIL, was responsible for the manipulative activities of the firm. Along with the Mukesh Ambani and RIL, SEBI has also imposed fine of Rs 20 crore on Navi Mumbai SEZ and Rs 10 crore on Mumbai SEZ.
