Sebi issues administrative warning to Reliance over employees' share trades

The Securities and Exchange Board of India (Sebi) has issued an administrative warning to Reliance Industries in a letter dated June 24, the company said in an exchange filing on Monday.

The warning letter relates to dealings in the company’s shares by two employees and an immediate relative of an employee in July 2024. The matter pertains to trades carried out by these individuals while in possession of unpublished price-sensitive information regarding the company.

“The company 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,” the company said.

In the letter, which Reliance Industries said it received on Monday from the NSE, Sebi noted: “The aforesaid violation has been viewed seriously by Sebi. Therefore, you are hereby warned for non-compliance with the regulatory provisions laid down by Sebi. You are further advised to be cautious in future and improve your compliance standards to avoid recurrence of instances resulting into violations of extant provisions of law, failing which appropriate action shall be initiated against you in accordance with the provisions of SEBI Act, 1992 and Rules and Regulations framed thereunder.”