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2012 (12) TMI 1144 - SECURITIES APPELLATE TRIBUNAL, MUMBAIExtract: .......off with a penalty of ₹ 5 lacs and ₹ 3 lacs each. Taking into consideration all these facts, we are of the view that the ends of justice would be met by reducing the penalty to ₹ 3 lacs. We order accordingly. In the result, while upholding the findings of the adjudicating officer, we reduce the penalty to ₹ 3 lacs. No costs.
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