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2019 (9) TMI 1562 - SCH - SEBICompounding of offence - violation of Regulation 7(1) and (2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - HELD THAT:- As appellants states that the appellants have already deposited a sum of ₹ 1,50,000/- (Rupees one lakh fifty thousand) on 2nd May, 2019 and that the interest amount due till the date of deposit @ 12% p.a. would be deposited within two weeks. Respondents state if the said amount is so deposited, the respondents would have no objection, in the given facts of the case, to compounding of the offence subject to any penalty which may be imposed under Section 24(2) of the said Act. In view of the facts set out herein and the age of the directors, despite the earlier reservation expressed by the respondents in the counter affidavit on account of the conduct of the appellants, we are inclined to compound the offence on the aforesaid amount being paid as assured before us by learned counsel for the appellants, subject to the penalty amount of ₹ 2,00,000/- (Rupees two lakhs). This amount should also be deposited with the Securities and Exchange Board of India within the same period of two weeks.
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