6. In very recent news, Reliance Industries Limited (RIL) could face a record fine for the offence of insider trading if SEBI establishes that RIL was involved in the offence. According to The Economic Times, February 14, 2011 edition, RIL has been looking to settle the case through plea bargaining or a consent order but its negotiations with the regulator have not made much headway due to the disagreement upon the amount of penalty. RIL had offered two paltry amounts which were not accepted to SEBI and hence penalty proceedings have been revived which had earlier been kept in abeyance. In a consent order, a company or individual accused of violating stock market regulations can end proceedings by paying a consent fee while neither admitting nor denying the guilt. According to Section 15G of Chapter VI A of the SEBI Act, 1992, the regulator may impose a penalty of Rs. 25 crore or three times the amount of profit a company made from insider trading, whichever is higher.