sebi:ORDER/BS/2021-22/13447
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Facts / Headnote
Violation of Clause 41 of the Listing Agreement read with Sections 21 and 23E of the SCRA, 1956 established; quantum of penalty to be determined
Provisions invoked
- s. 15A
- s. 23A
- s. 25
- s. 21
- s. 23
- s. 23E
- s. 23J
- s. 23I
- s. 211
- s. 85
- s. 227(2)
- s. 211o
- s. 48
- s. 48(2)
Regulations
- Reg. 14
Parties
- Reliance Industries Limited (RIL)
Holding
The Noticee (RIL) failed to disclose correct diluted EPS in its quarterly financial statements for six consecutive quarters from June 2007 to September 2008 despite the existence of share warrants, in violation of Clause 41 of the Listing Agreement read with Sections 21 and 23E of the SCRA, 1956.
Full text
Page 2 of 39 dated September 15, 2017 in the place of Shri S. V. Krishnamohan in the present matter. BRIEF FACTS OF THE CASE
Page 3 of 39 (hereinafter referred to as “Rules”) for the violations as specified in the SCN. 5. The Noticee submitted its reply to the SCN vide letter dated May 02, 2016, and following are the main submissions made therein –
Page 4 of 39 Quarter No. of equity shares outstanding during the quarter (in crore) Net profit during the period (Crore) No, of potential equity shares warrants outstanding during the period (in crore) Dilutive Potential Shares Number of Equity Shares Diluted EPS after providing for potential equity
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Source: SecMarx — sebi:ORDER/BS/2021-22/13447. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.