Tribunal to hear RIL insider trading case

Reliance Industries would be in focus as the Securities Appellate Tribunal hears the insider trading case on Wednesday. RIL has been fighting SEBI’s decision to exclude it from the consent mechanism. Marketmen do not expect an immediate ruling. In fact, the inordinate delay has injected an air of scepticism concerning the case. The case dates backs to 2007. RIL, prior to the merger of Reliance Petroleum with itself, had allegedly short sold 4.1 per cent stake.