Mumbai: Reliance Industries (RIL) on Monday said it received an administrative warning from the Securities and Exchange Board of India after the regulator found that two of its employees and one immediate relative of an employee had traded in its shares while in possession of unpublished, price-sensitive information.
In a stock exchange filing, the company said it received the Sebi letter, dated June 24, through the NSE on Monday. The letter addressed to the company secretary and compliance officer was related to transactions in July 2024.
RIL said it will take necessary steps to address the concern mentioned in the Sebi letter. “Sebi’s letter is cautionary in nature and does not impose any financial or operational restrictions on the Company,” it said. The company did not disclose any action against those named in the letter.
Sebi conducted an investigation into trading in Reliance shares during the period from June 1, 2024 to August 30, 2024. The regulator said it examined compliance with provisions of the Sebi Prohibition of Insider Trading Regulations, 2015.
The regulator named Harsh Jain, Kamini Jain and Hirai Umang Doshi in the annexure to its letter.
