SEBI has imposed a penalty of ₹30 lakh on Reliance Industries (RIL) and its two compliance officers. For allegedly violating fair disclosure norms over the Facebook-Jio deal. In April 2020, Meta’s Facebook invested $5.7 billion in Reliance’s Jio Platforms. SEBI said Reliance did not disclose the deal even after newspaper reports in March 2020. SEBI said it was “incumbent” on Reliance to provide “due clarification on its own” once it knew about the “selective availability” of the information. It imposed a penalty of 3 million Indian rupees ($38,522).
