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2004 (9) TMI 702 - AT - SEBIExtract: .......ng held that the appellants have not had anything to do with the day-to-day affairs of the company, as admitted by SEBI in its impugned order, we do not think that the appellants can be fastened with any liability. 23. Accordingly, we set aside the impugned order in so far as the appellants are concerned, and allow the appeal. No order as to costs.
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