SAT upholds imposition of penalty upon appellants who were connected entities and traded in a synchronized manner

COMPANY LAW/SEBI : Where investigating authority had issued summons to appellant companies requiring them to furnish information regarding implementation status of all corporate announcements made by them, but no details were submitted by appellants, moreover, most of announcements were not implemented, there was non-compliance of summons and failure to disclose non-implementation of corporate announcements,

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