Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs93 lakh on eight, including promoters, chairperson and managing director (CMD) and directors, while directing three of them to disgorge Rs22.80 crore, the unlawful gains earned by manipulating the share price of Vikas Proppant and Granite Ltd (VPGL), with an interest of 12% pa (per annum).

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