The Allahabad High Court has held that the period of detention prescribed in the confirmatory order passed by the State Government under Section 12 (1) of the National Security Act, 1980 cannot be.
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The case relates to insider trading activities by certain entities in the scrip of ZEEL, while in possession of UPSI pertaining to audited financial results of the media company for the quarter ended June 30, 2020 as well as launch of ZEEPLEX by the company on September 1, 2020.