Supreme Court of India · 2022-08-05
RELIANCE INDUSTRIES LIMITED vs SECURITIES AND EXCHANGE BOARD OF INDIA
- Citation / case number
- SC 2022/10692
- Court
- Supreme Court of India
- Petitioner
- RELIANCE INDUSTRIES LIMITED
- Respondent
- SECURITIES AND EXCHANGE BOARD OF INDIA
- Author
- HON'BLE THE CHIEF JUSTICE
- Bench
- HON'BLE THE CHIEF JUSTICE, HON'BLE MR. JUSTICE KRISHNA MURARI, HON'BLE MS. JUSTICE HIMA KOHLI
Judgment text excerpt
The Supreme Court addressed an appeal by Reliance Industries Limited against a Bombay High Court order concerning allegations of fraudulent share allotment in violation of the Companies Act, 1956. The court noted that the Securities and Exchange Board of India (SEBI) had not taken action despite an investigation report indicating no specific legal violations. The judgment emphasized the importance of timely action by regulatory bodies in upholding corporate governance standards.