SEBI banned Reliance Industries Limited from equity derivatives trading : What was the reason ????

Regulator SEBI ordered a probe in RIL and banned it from equity derivatives trading exercising the section 11 and 11B of SEBI act 1992.

(Sec 11 and 11 b of SEBI act deals with power and function of board to protect the interest of the shareholders)

Actually SEBI banned RIL and 12 of its associates from trading in equity derivatives because as per SEBI RIL along with its 12 associates fraudently traded securities of Reliance Power limited in future and option segment.

Due to the bank RIL shares fell continuously on Monday and Tuesday. RIL will appeal against the ban. If RIL is able to remove it's ban then we can again see some up movement in the share price.