RIL entity fined for alleged manipulation in options

The regulator alleged that the trade was done on the basis of mutual arrangement. This amounted to active concealment of fair price of the option and resulted into manipulation of the price of the contract, which had the effect of potentially misleading investors with regard to likely future price of the underlying. It had, thereby, violated Sebi’s Prohibition of Fraudulent and Unfair Trade Practices Regulations, said the regulator.