Why Sebi banned IT firm Synoptics, promoters from the markets

Markets regulator Securities and Exchange Board of India (Sebi) on Friday banned IT firm Synoptics Technologies and its promoters from the bourses, in a major action in the SME segment that raises questions about smaller listings.

Here’s the lowdown about it.

What happened?

Sebi whole-time member Kamlesh C Varshney upheld the interim order issued on May 6, maintaining the ban on Mumbai-based Synoptics and its promoters, Jatin Shah, Jagmohan Manilal Shah, and Janvi Jatin Shah, until the ongoing investigation is completed.

What is Synoptics…