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Facebook-Jio Deal: Tribunal Stays Non-Disclosure Penalty On RIL

SAT has stayed the INR 30 Lakh penalty imposed by SEBI on RIL over social media giant Facebook’s investment in Jio Platforms in 2020.

Current Affairs 28 June 2022

SEBI Imposes Penalty of Rs30 lakh on Reliance Industries and 2 Others

Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs30 lakh on Reliance Industries Limited (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman,

Regulator fines Reliance and staff over Facebook announcement

India’s financial regulator has fined Reliance Industries, the owner of Jio, for failing to announce Facebook’s US$5.7 billion investment. Two compliance officers were also fined.

SEBI Fines RIL INR 30L For Delayed Disclosure Over Facebook-Jio Deal

SEBI has fined RIL and two of its compliance officers INR 30 Lakhs for flouting fair disclosure norms over Facebook's Jio investment in 2020.