Reliance Industries has partnered with Meta to establish a 168-megawatt AI data centre in Jamnagar, Gujarat, aimed at supporting Meta’s growing artificial intelligence and computing requirements. Khaitan & Co advised Reliance on the landmark transaction, leading the legal advisory work.
The Supreme Court quashed SEBI and SAT orders against Reliance Industries in the Reliance Petroleum trading case, setting aside allegations of fraudulent market practices, directing refund of Rs 250 crore deposited during proceedings and ending the prolonged legal battle arising from 2007 stock market transactions.
The Supreme Court agreed to consider Reliance Industries Limited’s fresh request for conciliation in the Krishna-Godavari Basin gas migration dispute with the Central government, observing that an amicable settlement would be welcomed and the appeal could be disposed of if both sides successfully resolve the matter.
The Supreme Court dismissed SEBI’s appeal against the SAT ruling that cleared Mukesh Ambani of penalties for the 2007 Reliance Petroleum stock manipulation case, citing no question of law. However, the Court will hear SEBI’s appeal regarding SAT’s relief to RIL on December 2, 2023. Senior advocates represented both parties.
