India's Supreme Court on Friday provided relief to Reliance Industries Ltd in a securities market fraud case, overturning a lower court ruling and a 2020 order by the markets regulator that alleged the firm engaged in manipulative trading practices.
The court directed the Securities and Exchange Board of India (SEBI) to refund 2.5 billion rupees ($26.32 million) it had collected from the Mukesh Ambani-led company pending appeal, according to the order.
