Regulator May Ask Reliance to Pay 20.5 Billion Rupees, Mint Says

The Securities and Exchange Board of India may ask Reliance Industries Ltd. (RIL) to pay as much as 20.5 billion rupees to settle charges of insider trading, the Mint newspaper reported today, citing people it didn’t identify.

Reliance spokesman Manoj Warrier and N. Hariharan, a spokesman for the capital markets regulator, declined to comment on the report.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Pradeep Kurup at pkurup3@bloomberg.net

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