SC sets aside ₹447 crore SEBI recovery order against Reliance

The Supreme Court on Friday set aside the Securities and Exchange Board of India's (SEBI) order requiring Reliance Industries (RIL) to return ₹447.27 crore in the 2007 petroleum futures trading case. The Court also quashed SEBI's findings of fraud against the company. However, it upheld a separate penalty of ₹25 crore imposed on Reliance Industries.