Did the Government Help Reliance Industries Raise Rs 53,000 crore?

/ adjudication proceedings, Ajay Tyagi, April 21 circular, capital raising, debt free, fast track mode, financial regulation, ICDR Regulations, insider trading, market capitalisation, Mukesh Ambani, regulatory relaxation, Reliance Petroleum, rights issue, Rs 53000 crore, SEBI, SEBI rules, securities laws, show cause notice, stock market

The recently-concluded rights issue of shares by Reliance Industries Limited would not have been possible were it not for the relaxation of a crucial rule by the Securities and Exchange Board of India a few days before the Mukesh Ambani-headed company declared that it would conduct the country’s biggest-ever rights issue to raise over Rs 53,000 crore. This is the sixth article in a series.

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