SAT upholds SEBI's order of disgorgement of illegal gains made by promoter who traded on basis of UPSI of target - Co.

COMPANY LAW/SEBI : Where appellant who was MD of FDSL had substantial influence on management of target company 'R' and had disposed of shares of 'R' held by FDSL when he was privy to unpublished price sensitive information, order of SEBI of disgorgement of illegal gains made by appellant and FDSL from appellant alone when FDSL had gone under CIRP did not suffer from legal error

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