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2004 (8) TMI 757 - AT - SEBIExtract: ....... did not refer to the section as it then was. 9. In that view of the matter, we are inclined to modify the penalty from ₹ 50,000 each to ₹ 15,000 to each of the appellants. The amount shall be deposited with respondent within four weeks from the date of receipt of this order. 10. The appeals are partly allowed. 11. No order as to costs.
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