SC backs SEBI's ₹30L fine on Reliance for late Jio-Facebook deal news
The Supreme Court just confirmed that Reliance Industries has to pay a ₹30 lakh penalty for not telling the stock market about Facebook's big investment in Jio Platforms quickly enough back in 2020.
Why does this matter?
For anyone who follows business or invests, timely updates are key.
RIL waited nearly a month after news broke to officially confirm the Facebook-Jio deal, breaking fair disclosure rules meant to keep everyone on a level playing field.
The court's decision makes it clear: companies need to share important info with everyone at the same time—no favorites.
What did the court say?
Reliance tried to challenge the penalty, but the Supreme Court dismissed the appeal and backed SEBI's decision.
This serves as a strong reminder of the importance of transparency and market fairness.