The Supreme Court has provided Reliance Industries Limited with partial relief by overturning a ₹447 crore disgorgement order from the Securities and Exchange Board of India (SEBI).
However, the ₹25 crore penalty imposed by SEBI remains in effect.
On May 29, 2026, the Supreme Court intervened in a longstanding case against Reliance Industries, related to the 2007 trading activities associated with Reliance Petroleum shares.
The court annulled a substantial portion of the order from the Securities Appellate Tribunal (SAT), which had earlier mandated the company to disgorge ₹447.27 crore with 12% annual interest.
As per the court's directive, SEBI has been instructed to refund ₹250 crore previously deposited by the company.
This decision marks a significant turn in the over 15-year-old case, offering some reprieve to Reliance Industries.
The issue dates back to SEBI's 2017 ruling against Reliance Industries, where the regulator accused the company and its promoter group entities of engaging in fraudulent and manipulative trading practices.
This involved insider trading and market manipulation of Reliance Petroleum Ltd shares in November 2007. The SAT had previously upheld SEBI's findings and directed the disgorgement of the ₹447.27 crore sum.
Read More: Reliance Industries Becomes 1st Indian Company to Cross $120 Billion Revenue Milestone in FY26!
While the Supreme Court overturned the disgorgement order, it maintained the ₹25 crore penalty against Reliance Industries.
Additionally, SEBI's previous decision to bar the company and its 12 promoter group entities from trading in equity derivatives for 1 year still stands.
The regulator had defended these sanctions as equitable and remedial, noting the substantial gains accrued from what they termed contraventions of the law.
As of May 29, 2026, at 12:06 PM, Reliance Industries share price on NSE was trading at ₹1,336.70 down by 1.02% from the previous closing price.
The Supreme Court's recent ruling gives partial relief to Reliance Industries by cancelling a significant disgorgement order, but the company still faces a ₹25 crore fine and trading restrictions. This development partially alleviates the legal and financial burdens stemming from the long-standing case, while reinforcing the regulatory decisions of SEBI.
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Published on: May 29, 2026, 12:43 PM IST
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