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2009 (12) TMI 1042 - AT - SEBIExtract: .......sing the quantum of penalty. No fault can, thus, be found with the order of the adjudicating officer. Having regard to the fraudulent conduct of the appellant, we are of the view that this is not a fit case in which the quantum of penalty should be reduced. 6 . In the result, both the appeals fail and they stand dismissed with no order as to costs.
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