New Delhi, Dec. 2 -- The Supreme Court on Tuesday dismissed the appeal filed by Reliance Industries Ltd (RIL) challenging the Securities Appellate Tribunal's (SAT) order upholding a monetary penalty imposed for delayed disclosure of Facebook's 2020 investment in Jio Platforms.
A Bench of Chief Justice of India Surya Kant and Justice Joymalya Bagchi rejected the appeals filed by RIL and its compliance officers -Savithri Parekh and K. Sethuraman - who had questioned the SAT's May order. SAT had affirmed the Securities and Exchange Board of India's (SEBI) June 2022 decision imposing a penalty of Rs 30 lakh under Section 15-I of the SEBI Act for violation of Principle 4 of Regulation 8(1) of the PIT Regulations, 2015, read with Regulation 30(1...