RIL entity fined for alleged manipulation in options
The Securities and Exchange Board of India (Sebi) has fined Reliance Startegic Investments, part of Mukesh Ambani’s Reliance Group, ₹7 lakh for alleged manipulation of trades done in long dated Nifty options in 2017.
The crux of Sebi’s allegation against Reliance Strategic Investments is that Reliance along with Morgan Stanley France had knowingly traded in the puts of strike price 11400 PE at a discount of 15%, 35% and 37% to the intrinsic value of the put options on July 31, August 8 & 10, 2017, respectively.
