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Sebi: SAT quashes Sebi order against Jio Financial

Sebi had alleged that Reliance Strategic Investments, along with Morgan Stanley France (MSF), had knowingly traded in the puts of strike price 11,400 PE at a discount of 15%, 35% and 37% to the intrinsic value of the put options on July 31, August 8, and August 10, 2017, respectively.

SAT Dismisses SEBI s Rs7 Lakh Penalty Order against Jio Financial Services in Box Trade

Terming the order passed by the Securities and Exchange Board of India (SEBI), imposing a penalty of Rs7 lakh on Jio Financial Services Ltd (erstwhile Reliance Strategic Investments Ltd), as erroneous and without any basis, the Securities Appellate Tribunal (SAT) quashed the order.

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