The Supreme Court has partly allowed an appeal challenging a Securities Appellate Tribunal (SAT) judgment concerning trading in Reliance Petroleum Limited (RPL) shares and futures contracts in November 2007, holding that SAT committed an “egregious error” in concluding that the appellants had engaged in fraudulent and manipulative practices under the SEBI (Prohibition of Fraudulent and Unfair Trade … Continue reading No Fraud in Reliance Petroleum Futures Trades: Supreme Court Quashes SAT Findings, Directs Refund of ₹250 Crore Deposited in Investor Protection Fund