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SAT Dismisses Omaxe Appeal Against SEBI Order for Financial Statement Irregularities

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Sig4.33Sen-6.95Env0.00Soc0.00Gov-8.55

SAT dismissed Omaxe’s appeal against a SEBI order tied to alleged misstatements in FY19–FY21 financial statements. SEBI barred Omaxe and several top leaders, plus other individuals and key managerial roles, for two years and imposed Rs 47 lakh in penalties across 16 entities, alleging the misrepresentation helped manipulate the scrip price and preserve promoter loan collateral.

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