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1998 (9) TMI 488 - CEGAT, MUMBAIExtract: .......ghtly held to be not authorised. Though the penalty has been imposed on the Respondents at Rs. 1 lakh this has to be seen in the context of the lenient view taken as regards the redemption fine. Therefore we feel there is no case made out for any modification in the quantum of penalty. The appeal and the cross-objection are accordingly disposed of.
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