Reliance Industries dissolved its step-down wholly owned subsidiary, REC US Holdings Inc, effective July 6, 2026. The voluntary filing of a certificate of dissolution with the Secretary of State of Delaware concluded the entity's operations, which had nil turnover in the calendar year 2025. REC US Holdings Inc has ceased to be a subsidiary of the company from the said date.

REC US Holdings Inc was a non-operating company. As on December 31, 2025, its net worth stood at ₹0.0009 crore. This figure contributed 0.0000001% to the consolidated net worth of Reliance Industries for the financial year 2025-26.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation regarding the dissolution was received by the company on July 8, 2026, at 1:18 a.m. (IST).

Financial Impact of Dissolution

The dissolution of REC US Holdings Inc has a negligible impact on the consolidated financial position of Reliance Industries due to the subsidiary's minimal net worth contribution.

Securities and Exchange Board of India (SEBI) has issued an administrative warning to Reliance Industries addressing its Company Secretary and Compliance Officer over violations of insider trading regulations by three connected persons during July 2024. The regulator found that two employees and one immediate relative traded in the company's scrip while in possession of unpublished price sensitive information (UPSI). The warning letter, dated June 24, 2026, cited failures in monitoring trades and administering the code of conduct effectively.

Regulatory Violations and Investigation Period

The investigation covered the period from June 1, 2024, to August 30, 2024. SEBI observed that the connected persons violated Regulation 4(1) of the PIT Regulations and Section 12A(d) and (e) of the SEBI Act. The company acknowledged that it took cognizance of the violations only after receiving communication from SEBI. The regulator noted that the Compliance Officer failed to monitor compliance with the PIT Regulations as mandated under Regulation 9(3) and 2(1)(c).

Trades of Connected Persons

The trades executed by the connected persons involved both buy and sell transactions across July 2024. Harsh Jain, an employee, bought 2 shares on July 5, 2024, for ₹6,385. Kamini Jain, an immediate relative of connected person Mahesh Goyal, sold 35 shares on July 10, 2024, for ₹1,09,695.25, and subsequently bought 25 shares on July 11, 2024, for ₹78,871.25. Hiral Umang Doshi, an employee, sold 15 shares on July 18, 2024, for ₹47,625. The following table summarises all trades flagged by SEBI during the investigation period:

Regulator's Stance and Company Response

SEBI stated that the violation is viewed seriously and advised the Compliance Officer to exercise greater caution and improve compliance standards to avoid recurrence. The regulator warned that appropriate action would be initiated if such violations persist. Reliance Industries confirmed that the warning letter is cautionary in nature and does not impose any financial or operational restrictions on the company. The company further stated it will take necessary steps to address the concerns mentioned in the SEBI letter.