Reliance Industries Ltd. (RIL) said the company and its other group companies have complied with all rules and regulations. The Mukesh Ambani-owned RIL was reacting to media reports that capital market regulator SEBI was probing alleged insider trading in Reliance Petroleum shares. RIL said it will cooperate and provide all the necessary information to the concerned authorities. SEBI is investigating trading in Reliance Petroleum shares, the Minister of State for Finance Pawan Kumar Bansal said in the Rajya Sabha. "SEBI has informed that it has initiated an examination in the matter," Bansal said. The minister was responding to a question by SP leader Amar Singh on whether the Government has acted against the promoters or affiliates of RIL regarding insider trading activities in Reliance Petroleum. In November, RIL raised Rs40.23bn (US$1bn) by selling 4% stake in Reliance Petroleum. While actual date for the stake sale is not known, shares of Reliance Petroleum moved up sharply between late October and early November.
(This article dated 20th March 2008)
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In my view, SEBI unable to find out that Reliance had involved in this insider trading issue (Even though RIL may have involved in this). That’s India, that’s Reliance!
In our country everything is possible like Laloo ate so much grass and became the RLY minister and we all are calling him as Honorable Minister (How silly it is!) what about soren now he is entering in to the cabinet like that we can see lot of people. They may be involved in that issues but as per our (bullshit)LAW they can not be punished.
Similarly nothing can happen to Reliance. These all are political dramas by the big persons.
With thanks
Be and make
2 comments:
which one is good to invest on NSE or BSE? mostly i had bought from NSE
pl advice
thanks
Vishnu
NSE.
with thanks
k a l y a n
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