India, Dec. 3 -- The Supreme Court on Tuesday dismissed an appeal of Reliance Industries Limited and two of its officials against a Securities Appellate Tribunal's decision upholding a penalty imposed by markets regulator SEBI for not making a prompt clarification to the stock exchange about the Jio-Facebook deal.

"The bigger the company, the greater the responsibility. You must meticulously comply with the regulations," a bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi observed during the hearing.

The top court declined to interfere with the Securities Appellate Tribunal (SAT) ruling and effectively affirmed SEBI's findings that Reliance Industries Limited (RIL) and its compliance officers failed to promptly discl...