Why has Reliance been barred from trading in futures?
Mukesh Ambani-led Reliance Industries (RIL) was barred from trading in futures market for a year over stake sale in Reliance Petroleum (RPL). In 2007, RIL sold 4.1% stake in RPL, but shares were first 'short-sold' in futures market to avoid a fall in RPL stocks. Short sale means selling shares with plans to buy them back later at lower prices.