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2012 (7) TMI 1145 - SECURITIES APPELLATE TRIBUNAL, MUMBAIExtract: .......the case, ends of justice would be met by reducing the penalty to ' 10 lakh. We order accordingly. In the result, while upholding the order of the adjudicating officer on the issue of violation / contravention of the provisions of regulation 11(1) read with regulation 14(1) of the takeover code, we reduce the penalty to ' 10 lakh. No costs.
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