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The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.
The SAT has concluded that the information said to have been possessed by the Roys when the traded in the NDTV shares was not price sensitive, contrary to the SEBI findings on this aspect.
The Appellate Tribunal sent the matter back to the Whole Time Member (WTM) of SEBI for fresh consideration.