India News
SEBI fines Reliance Industries, Mukesh Ambani and two other entities for manipulative trading in RPL
Market Regulator Securities and Exchange Board of India (SEBI) on Friday imposed a fine of Rs 25 crores on Reliance Industries Ltd (RIL), Rs 15 crore on its chairman Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ Pvt. Ltd., and Rs 10 crore on Mumbai SEZ Ltd. for their alleged role in carrying out manipulative trades in Reliance Petroleum in the year 2007.
Market Regulator Securities and Exchange Board of India (SEBI) on Friday imposed a fine of Rs 25 crores on Reliance Industries Ltd (RIL), Rs 15 crore on its chairman Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ Pvt. Ltd., and Rs 10 crore on Mumbai SEZ Ltd. for their alleged role in carrying out manipulative trades in Reliance Petroleum in the year 2007.
SEBI in its 95-page order said in November 2007 Reliance Industries and two other entities were involved in sale and purchase of Reliance Petroleum shares in the cash and derivatives segments to earn profit from it. This followed RIL’s decision in March 2007 to sell 4.1 per cent stake in RPL, a listed subsidiary that was later merged with RIL in 2009.
Securities and Exchange Board of India conducted an investigation into the trading in the scrip of Reliance Petroleum Limited from November 1, 2007 to November 29, 2007 to ascertain whether there was any violation of the provisions of SEBI Act 1992.
It was observed in the investigation that a resolution was passed by the Board of Directors of on March 29, 2007 which approved the operating plan for the year 2007-08 and resource requirements for the next two years. Thereafter, RIL decided to sell approximately 5% of its shareholding in RPL in November 2007.
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During the period of November 1, 2007 to November 29, 2007, various transactions were undertaken by RIL in the Cash Segment and by RIL through the Agents in the F&O Segment. From November 15, 2007 onwards, RIL’s short position in the F&O Segment constantly exceeded the proposed sale of shares in the Cash Segment. On November 29 2007, RIL sold a total of Rs 2.25 crore shares in the Cash Segment during the last 10 minutes of trading resulting in fall in the prices of RPL shares, which also lowered the settlement price of RPL November Futures in the F&O Segment. RIL’s entire outstanding position of Rs 7.97 crores in the F&O Segment was cash settled at this depressed settlement price resulting in profits on the said short positions. The said profits were transferred by the agents to RIL as per a prior agreement.
Haryana news
Watch: Haryana CM Manohar Lal Khattar reaches Karnal airport on bike, video went viral
On September 1, in an effort to check pollution, Haryana Chief Minister Manohar Lal Khattar declared that Tuesdays from now will be designated as car-free days in Karnal.
Haryana Chief Minister Manohar Lal Khattar on Tuesday took a bike rike to Karnal airport in an attempt to support the car free day initiative in the state. Earlier, the chief minister announced that every Tuesday would be a car-free day in Karnal, where all government officials would travel by bicycle only.
Taking to X, formerly Twitter, CM Manohar Lal Khattar wrote that be it Car Free Day or the resolve to make Drug-free Haryana, it cannot be accomplished without public cooperation. He expressed that he also made a small cooperation to reduce car traffic today by travelling to Karnal Airport by bike on Car Free Day. He added that he hopes the aware people of the state will take this message forward and inspire people to give up their cars just for a day.
On September 1, in an effort to check pollution, Haryana Chief Minister Manohar Lal Khattar declared that Tuesdays from now will be designated as car-free days in Karnal. Under the aegis of this initiative, all government officials will be required to travel by bicycle on Tuesdays.
Meanwhile on Monday, Haryana Chief Minister Manohar Lal Khattar flagged off a cyclothon in Haryana’s Yamunanagar to promote the initiative of drug-free Haryana. The campaign titled Cyclothon for a Drug-Free Haryana witnessed the first cyclothon on September 1 and Monday, September 25.
Speaking about drug-free Haryana, the Chief Minister noted that their goal will not be achieved by mere march against drug addiction. He added that in order to eradicate it from its roots they will have to create public awareness continuously. He underlined that to eliminate drug addiction, they have to break the drug supply chain for which the government is taking action against the drug smugglers with great responsibility.
The Chief Minister further remarked that during Cyclothon Yatra Closing Ceremony in Karnal, all the people present there took many resolutions to eradicate drug addiction from the society.
India News
Cauvery water dispute: Bengaluru bandh evokes partial response as public services function normally
Though cab services, autos and hotels, restaurants were seen operating, drivers and hotel operators asserted not many people were coming out to utilise the services.
The Bengaluru bandh summoned by farmers and Kannada organisations on Tuesday and supported by the BJP and JD(S) in protest against the release of Cauvery river water to Tamil Nadu evoked partial response as most of the public services were functioning normally. However, very few people ventured out in the streets.
Though cab services, autos and hotels, restaurants were seen operating, drivers and hotel operators asserted not many people were coming out to utilise the services. In Bengaluru Metropolitan Transport Corporation (BMTC) buses and Metro rail services, the usual rush was not seen. In addition, Ola-Uber Drivers Association and Hotel Owners Association have said that their services will be normal today.
On the other hand, Bengaluru Urban district Deputy Commissioner Dayananda K A has declared a holiday for all schools and colleges in the city on Tuesday, in wake of the bandh. Several private companies and firms, including those in the IT sector have asked their employees to work from home. Some shopping malls in the city have decided to remain shut. Many shops and establishments were also seen not functioning as usual in the morning hours.
Karnataka Jala Samrakshana Samiti, which is an umbrella outfit of farmers’ associations and other organisations headed by farmer leader Kuruburu Shanthakumar, has given the call for today’s dawn-to-dusk (6 am to 6 pm) Bengaluru shutdown. Shanthakumar and other leaders of the Karnataka Jala Samrakshana Samiti were arrested by the police at the Mysuru Bank circle, as they were trying to hold a protest march towards Town Hall.
In addition, multiple activists of Kannada organisations were also whisked away by the police at Town Hall, as they gathered there to demonstrate a protest. Farmers’ leaders and Kannada activists slammed the government for allegedly using police force to curtail the protests and bandh. Farmers and pro-Kannada organisations are further expected to stage a protest at the Freedom Park, which is a designated place for such demonstrations.
According to reports, city police have taken adequate security measures to respond to any violence that may happen during the protests. Nearly 100 platoons have been deployed. Bengaluru Police Commissioner B Dayananda stated that prohibitory orders under Section 144 are in place across the city from midnight on Monday to midnight on Tuesday in the view of the bandh.
According to existing restrictions and court orders, there is no permission for any bandh or procession in the city, he added. On the other hand, a Karnataka bandh, a state-wide shutdown, was called on September 29 by Kannada Okkuta, an umbrella organisation for Kannada organisations, led by Kannada activist Vatal Nagaraj. They are not supporting today’s bandh.
India News
Happy Birthday Manmohan Singh: PM Modi, Rahul Gandhi, Stalin, Kharge greet ex PM Manmohan Singh on his 91st birthday
Rahul Gandhi posted on X former Prime Minister Dr Manmohan Singh Ji’s economic upliftment of the masses, unwavering commitment to nation building and integrity will always remain an inspiration for him. He wished him happiness and good health on his birthday.
PM Narendra Modi, Congress Leader Rahul Gandhi, Congress President Mallikarjun Kharge greeted ex PM Manmohan Singh on his 91 st birthday. PM Modi took to X (Formerly twitter) and wrote birthday wishes to former PM Dr Manmohan Singh Ji. He prayed for his good health and long life. Kharge wrote on X (formerly twitter) he extended his best wishes to former Prime Minister Dr Manmohan Singh ji. He is a rare example of grace, dignity and grace in politics. Kharge said the nation is grateful for his tremendous contribution to the nation.
Rahul Gandhi posted on X former Prime Minister Dr Manmohan Singh Ji’s economic upliftment of the masses, unwavering commitment to nation building and integrity will always remain an inspiration for him. He wished him happiness and good health on his birthday.
Congress General Secretary Priyanka Gandhi Vadra greeted Singh on his birthday. She wished Manmohan Singh Ji a very very Happy Birthday. She said as a leader he showed her the value of humility and patience in politics. She added as a Prime Minister his wisdom, vision, courage and his honesty made the way for the country to move ahead in the 21st century with pride and self assurance. She said she always had deep respect for him.
Tamil Nadu Chief Minister MK Stalin greeted Manmohan Singh on his birthday. He wrote on X (formerly twitter) birthday greetings to former Prime Minister Dr Manmohan Singh! As PM his leadership during the global financial crises and his commitment to inclusive policies reshaped India’s future. He said his humble, intellectual and composed approach serves as an example and provides valuable lessons for leadership in every era. His legacy of stability and progress endures. Dr Manmohan Singh was the two time Prime Minister during the 2004 to 2014. He attended the Parliament’s Special Session on a wheel chair.
