Jio-Facebook deal: SC rejects RIL’s plea against SAT order imposing ₹30 lakh fine

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 prompt clarification to 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.