Date: July 6, 2026
Regulatory Action Disclosure
SEBI has issued an administrative warning letter dated June 24, 2026 to the Company Secretary and Compliance Officer of Reliance Industries Limited. The letter was received from NSE on July 6, 2026 around 12:15 p.m.
The warning relates to violations of SEBI (Prohibition of Insider Trading) Regulations, 2015 observed during an investigation period from June 1, 2024 to August 30, 2024.
Specific Violations
SEBI investigation found that three connected persons or their immediate relatives traded in Reliance scrip while in possession of unpublished price sensitive information (UPSI), violating Regulation 4(1) of PIT Regulations and Section 12A(d) and (e) of the SEBI Act.
Trade Details
The specific trades identified by SEBI are:
- Harsh Jain (Employee): Bought 2 shares on July 5, 2024 for ₹6,385
- Kamini Jain (Immediate Relative of Mahesh Goyal): Sold 35 shares on July 10, 2024 for ₹1,09,695.25
- Kamini Jain (Immediate Relative of Mahesh Goyal): Bought 25 shares on July 11, 2024 for ₹78,871.25
- Hiral Umang Doshi (Employee): Sold 15 shares on July 18, 2024 for ₹47,625
Compliance Officer Responsibility
SEBI noted that the Compliance Officer failed to monitor trades and administer the code of conduct as required under Regulation 9(3) and 2(1)(c) of PIT Regulations. The company only took cognizance of the violations after receiving communication from SEBI.
Nature of Warning
The SEBI letter is cautionary in nature and does not impose any financial or operational restrictions on the company. SEBI has warned the Compliance Officer to be cautious in future and improve compliance standards to avoid recurrence of violations.
Company Response
Reliance Industries Limited stated that it will take necessary steps to address the concerns mentioned in the SEBI letter.