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In a landmark move that underscores its zero-tolerance policy towards market manipulation, the Securities and Exchange Board of India (SEBI) has imposed a stringent market ban on Synoptics Technologies Ltd (STL) and its key promoters for a massive and brazen scheme to siphon off IPO proceeds. The confirmatory order, passed on October 3, 2025, upholds an earlier interim directive, prohibiting the company and its promoters from accessing the capital markets until a full investigation is complete.