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SC sets aside SAT order directing RIL to disgorge ₹447 crore
The Supreme Court on Friday set aside an order directing Reliance Industries Ltd (RIL) to disgorge Rs 447.27 crore in a matter relating to the trading of Reliance Petroleum Ltd (RPL) shares in 2007. The apex court partly allowed the appeal filed by RIL challenging a November 2020 order of the Securities Appellate Tribunal (SAT), Mumbai. The SAT, by a 2:1 majority order, dismissed RIL's appeal against the Securities and Exchange Board of India (SEBI )'s March 24, 2017, order relating to the sale of RPL shares in November 2007. The top court said the SAT, in its majority verdict, committed an "egregious error" in passing the judgement insofar as the question of fraud under Regulations 3 and 4 of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market), 2003 (PFUTP) is concerned. "However, we concur with the SAT's observations in its majority judgment as regards the penalty to be levied on the appellant number 1 (R
SC quashes SEBI order against Reliance in RPL trading case; orders ₹250 crore refund
The Supreme Court has quashed SEBI's order alleging fraudulent and manipulative trades by 12 Reliance-linked entities in Reliance Petroleum shares in 2007. The court also set aside a 2020 SAT ruling that upheld the regulator's findings and directed the refund of ₹250 crore deposited by Reliance Industries.
Supreme Court sets aside Sebi ₹447 crore disgorgement order in Reliance Petroleum derivatives case
The top court overturned SAT fraud findings, but upheld limited derivatives violations in long-running 2007 trading dispute involving Reliance Industries and Reliance Petroleum.
Reliance Industries gets partial relief from Supreme Court as it sets aside Rs 447 crore Sebi recovery order
In a landmark ruling, the Supreme Court has sided with Reliance Industries Ltd in a trading case that has spanned over 15 years. The court has annulled a substantial disgorgement order previously placed on the company, providing some relief. However, the Rs 25 crore fine levied by the Securities and Exchange Board of India (Sebi) stands firm.
PLI 2.0: India bets big on making more of the smartphone at home
India is updating its mobile phone production incentive scheme. The new plan targets over 55% domestic value addition. It will also link with component manufacturing schemes. This aims to boost local sourcing of crucial parts. The government wants to reduce reliance on imports for high-value components. This move follows concerns about current import dependence.
Coal gasification can help cut dependence on imports: G Kishan Reddy
India aims to cut reliance on imported chemicals through coal gasification. The government is offering significant financial support and incentives for new projects. Companies have been urged to invest in coal gasification plants. A draft proposal is expected soon, with the scheme likely to launch by early July.
Reliance warns of a volatile oil market in FY27, bets on gas and green chemicals for growth
In the upcoming financial year FY26-27, Reliance Industries Limited is preparing for a potential slump in global oil demand, driven by high crude prices, economic slowdowns, and geopolitical unrest in the Middle East. However, the company is positioning itself to seize a long-term opportunity in the energy and materials sectors.
Reliance operationalises clean energy giga complex; elevates national exchequer contribution to Rs 2,16,472 crore in FY26
Reliance Industries has launched its clean energy operations. The company commissioned solar module manufacturing and began advanced work on a battery storage giga-factory. Reliance also significantly increased its contributions to the national exchequer. Jio Platforms accelerated its research and development, filing numerous new patents. The company is focused on enabling India's energy and digital future.
Stock markets decline for 2nd day on selling in oil, gas, banking shares
Stock markets closed lower for the second consecutive day on Wednesday as investors remained cautious amid conflicting geopolitical signals from the West Asia and fresh foreign fund outflows. In a volatile trade, the 30-share BSE Sensex declined 141.90 points, or 0.19 per cent, to settle at 75,867.80, with 20 of its constituents ending higher and 10 with losses. During the day, it hit a high of 76,224.68 and a low of 75,748.21, gyrating 476.47 points. The 50-share NSE Nifty skidded 6.55 points, or 0.03 per cent, to end at 23,907.15. Sensex had dropped by 479.26 points and Nifty by 118 points on Tuesday. Financials, oil & gas, IT and private banking shares were the major drag while energy, metals, and auto shares advanced, capping the downside. Among 30 Sensex firms, HDFC Bank fell the most by 2.63 per cent. Infosys, ITC, Hindustan Unilever, Reliance Industries and ICICI Bank were also among the major laggards. Power Grid, Eternal, NTPC and Tata Steel were the major ...
Indian banks more exposed to West Asia crisis among APAC region: Moody's
Indian banks face significant exposure due to energy import reliance. Higher fuel costs will strain consumers and businesses, increasing credit stress. Non-bank lenders with unsecured retail loans are particularly vulnerable. Despite these pressures, Indian banks possess strong capital buffers.
RIL announces AGM date on June 19; updates on Jio IPO in focus
Reliance Industries Ltd will hold its 49th annual general meeting on June 19, 2026. The company reported strong revenue and growth in its consumer businesses for the fiscal year. Investors anticipate updates on Reliance Jio IPO and new energy ventures. The meeting will cover the company's future investment plans and retail expansion.
Pakistan plans oil reserves, storage push as Hormuz constraints expose vulnerabilities
Pakistan is proposing a bonded storage plan to boost its energy security by allowing international suppliers to hold petroleum stocks. The government aims to build strategic reserves, funded by a levy on fuel, and increase local supply capacity. This initiative comes as Pakistan lacks strategic petroleum reserves despite heavy reliance on Gulf imports.