India’s Reliance Industries penalized for alleged fraud
New Delhi - Arab Today
India’s markets regulator has barred Reliance Industries and 12 others from trading in equity derivatives for a year for alleged fraudulent trades made 10 years ago.
The multibillion-dollar Reliance Industries rejected the ruling by the Securities and Exchange Board of India (SEBI) and said it would appeal the order.
In its ruling late Friday, the securities regulator said that the fraud is related to the 2007 sale of a 5-percent stake in subsidiary Reliance Petroleum when it was a separately listed company. The company used unlawful TRADE PRACTICES to profit from that sale, the ruling said.
The regulator said Reliance made about Rs5 billion ($76 million) in profits from that and has asked it to give up nearly Rs4.5 billion along with 12 percent interest within 45 days.
According to the Press Trust of India (PTI), SEBI official G. Mahalingam said that that he passed the order “in order to protect the interest of the investors” and make them trust the regulatory system.
“The noticees may, however, square off or close out their existing open positions,” the order said.
Source: Arab News
- Saturday ,13 January GMT 19:16 2018 China shuts Marriott website over Tibet error, scolds other firms
- Wednesday ,03 January GMT 13:49 2018 China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval fails
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline Niki
Argentine peso starts to recover after two days of crashes
Buenos Aires - AFP
Argentina's peso began to recover on Friday as markets opened, making a tiny 0.68 percent gain after losing 20 percent of its value against the dollar over the previous twoTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
UEFA are set to wait until next season before introducing Video Assistant Referees (VAR) in the Champions League, although they are still not ruling out having it in this season's final, president Aleksander Ceferin said on Friday. Ceferin has soFor $11.6 bn
Sanofi buys US haemophilia treatment firm
Paris - Al Maghrib Today
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances itsParis show pays homage
To 'eternal style' of late Alaia
Paris - Al Maghrib Today
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led hisGMT 09:22 2018 Monday ,22 January
Skincare PR Performance Full Year 2017GMT 11:03 2018 Wednesday ,24 January
New hunt for flight MH370 gets under wayGMT 10:57 2017 Thursday ,21 December
Modern colorful bedroom renovationGMT 13:56 2018 Tuesday ,23 January
Puigdemont candidate for Catalan presidentGMT 10:47 2018 Wednesday ,24 January
Turkey detains dozens moreGMT 10:46 2018 Tuesday ,16 January
The Rake announces editorial updatesGMT 11:51 2018 Tuesday ,23 January
Europe brings on charm and blue skiesGMT 10:46 2017 Tuesday ,19 December
For the Variety of Interior Design StylesGMT 13:44 2018 Monday ,22 January
US Christian tourists see deep meaningGMT 10:03 2018 Tuesday ,23 January
Amazon to open first cashierless shop
GMT 15:17 2017 Thursday ,17 August
Three airlines jostling for Air Berlin assets: CEO
GMT 05:38 2017 Thursday ,06 April
ExxonMobil, Qatar Petroleum sign Cyprus gas deal
GMT 02:41 2016 Saturday ,24 December
Oil dips before holiday week; Libyan output boost weighs
GMT 11:31 2014 Thursday ,14 August
Kanye West's new single 'All Day' leaks online
GMT 10:43 2018 Tuesday ,23 January
Volkswagen clinches record sales
GMT 08:35 2018 Friday ,05 January
18 dead, 254 injured as South Africa train slams into truck
GMT 08:27 2018 Friday ,05 January
US warns Iran to be held to account
GMT 09:17 2017 Saturday ,23 December
Ugandan army says it attacked rebel camps
GMT 09:44 2017 Thursday ,21 December
All Caps launches and appoints b. the communications agency
GMT 01:57 2017 Saturday ,21 January
In Libya, Daesh down but not out
GMT 21:41 2016 Thursday ,12 May
IT Minister suggests holding World Radiocommunication Conferences 2016
GMT 12:48 2017 Monday ,10 July
Etihad holidays expand in Saudi , Kuwait , Oman & Bahrain
GMT 21:21 2017 Monday ,25 September
Turkey court orders release of top journalist in newspaper trial
GMT 16:44 2017 Sunday ,26 February
Msheireb Properties Awards Car Parking Management Contract to Mawaqif QatarGMT 05:51 2012 Wednesday ,18 January
Shireen’s latest out soonGMT 19:54 2012 Thursday ,10 May
I couldn\'t love Dad more - but now I wish I\'d let him die
GMT 08:56 2017 Thursday ,26 October
Workplace harassment blights industries across board
GMT 17:51 2017 Wednesday ,25 October
Maxwell says refused service over kneeling for anthem
GMT 22:59 2015 Monday ,13 April
Egyptian army urges media to present information concerning activities
GMT 18:03 2016 Thursday ,12 May
Sudanese president leaves for Kampala to attend Museveni's inauguration
GMT 17:53 2016 Wednesday ,20 April
OIC slams Netanyahu 's statements on Golan Heights
GMT 22:31 2016 Wednesday ,12 October
Syrian army continues shelling militants hidouts across country
GMT 10:51 2017 Saturday ,18 March
Ammar Al Hakim calls for building partnership with Egypt
GMT 19:39 2015 Tuesday ,09 June
Sisi will announce shortly initiative on youth empowerment
GMT 14:41 2016 Tuesday ,19 January
2 Daesh members killed in Libya's Derna
GMT 21:51 2016 Monday ,29 February
Airstrike targets suspected Daesh convoy in Libya
GMT 21:18 2016 Tuesday ,15 November
Rare suicide attack south of Baghdad kills 8
GMT 17:56 2015 Thursday ,27 August
US journalist killings revive gun control debate
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor