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2011 (8) TMI 1289 - THE SECURITIES APPELLATE TRIBUNAL MUMBAIExtract: .......ings of the adjudicating officer in this regard. For the reasons recorded above, we find no merit in these appeals and dismiss the same. However, the penalty on each of the appellants shall be ₹ 3 lacs and in the case of Astrols Dealcom Private Limited it shall be ₹ 4 lacs. The impugned orders shall stand modified accordingly. No costs.
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