SEBI bans 17-year-old Indian IT company and its promoters from market: What are the charges

Securities and Exchange Board of India (SEBI) has banned Mumbai-based IT company Synoptics Technologies and its promoters from the securities market. According to a report by news agency PTI, the regulator has also barred the 17-year-old company’s promoters – Jatin Shah, Jagmohan Manilal Shah and Janvi Jatin Shah. The ban, the report says, will remain in force until the completion of an investigation into allegations of diverting funds raised through its IPO.

In a confirmatory order, SEBI whole-time member Kamlesh C Varshney said “I…hereby confirm the directions issued vide the interim order dated May 6, 2025.”