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1986 (12) TMI 385 - HC - FEMAExtract: ....... by the concerned officers. 13. In the result, the penalty levied by the adjudicating authority as reduced by the Appellate Board, is set aside as far as the penalty for contravention under section 12(2)(b) is concerned. The penalty levied under section 10(1)(b) as modified by the Appellate Board, is confirmed, No costs. Time for payment-one month.
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