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So will Reliance Industries get a settlement with SEBI now?

Posted by fairval on May 19, 2011

An interesting chain of events is going on, if you join the dots a bit.

Bhave has been pushed out of SEBI. A few days ago, The Economic Times reported that two of his close confidants were being denied extension. The Finance Ministry had earlier wanted to give them an extension, both had agreed also. Now it is abruptly withdrawn.

See what the ET article says:

Abraham handled sensitive issues such as the investigation into the case relating to the alleged violation of portfolio investment rules by ADAG; the proposal of MCX-SX to offer a trading platform in equity and derivatives, and several other cases of insider trading. Sahoo is currently hearing arguments relating to the charges of insider trading raised against RIL.

And now, Reliance has approached SEBI for a third time for an out of court settlement. Would be interesting to see if it goes through quietly this time.

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