Sebi holds RIL arm guilty of F&O trade manipulation, imposes Rs 7,00,000 fine

Sebi has found Reliance Strategic Investments guilty of manipulating long-dated Nifty options in 2017. The trades between Reliance Strategic Investments and Morgan Stanley were found to be significantly away from the intrinsic value, leading to a manipulation of the price of the contract. Reliance Industries arm filed a reply contesting the allegations but failed to explain the rationale behind the significant discount in the traded put option.