Company Affairs Ministry says 'no comments' on RIL
Monday, December 27 2004 20:01 Hrs (IST) - World Time - 
New Delhi:
Even as market watchdog SEBI (Security Exchange Board of India) swung into action over allegations of insider and unfair trading practices in Reliance Industries' scrip, the Ministry of Company Affairs today (Dec 27, 2004) refused to comment on the matter.
Asked whether the Ministry was contemplating taking any action in the backdrop of the allegations made by RIL Vice-Chairman and Managing Director Anil Ambani, a senior official in the Ministry said, "Steps will certainly be initiated in case of any actionable offence."
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Earlier in the day, market regulator SEBI had said it will examine the legal aspects of alleged insider and unfair trading practices in RIL scrip in the wake of Anil's comments made before the company's board meeting.
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"This is definitely a sensitive matter and market regulator is looking into the insider trading angle and provisions of unfair trade practices," senior SEBI officials said.
PTI
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