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2012 (5) TMI 779 - SECURITIES APPELLATE TRIBUNAL, MUMBAIExtract: ....... Appeal no. 81 of 2012, the Board has imposed a penalty of 1 lac and 50,000 under section 15 HA and 15 HB of the Act on the appellant. In the facts and circumstances of the case, we find the penalty imposed by the Board on the two appellants to be just and reasonable. In the result, both the appeals fail and are dismissed with no order as to costs.
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