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        Companies Law

        2007 (9) TMI 424 - HC - Companies Law

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        Appellate Authority Reduces Penalty for RBI Non-Permission Despite Claim of No Default The High Court of Bombay upheld the reduction of penalty imposed by the appellate authority on the appellants for not having permission from RBI, despite ...
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Appellate Authority Reduces Penalty for RBI Non-Permission Despite Claim of No Default

                                The High Court of Bombay upheld the reduction of penalty imposed by the appellate authority on the appellants for not having permission from RBI, despite their claim of no default. The penalty was reduced based on the discretion of the appellate authority, leading to the dismissal of the appeal.


                                The High Court of Bombay upheld the reduction of penalty imposed by the appellate authority on the appellants for not having permission from RBI, despite their claim of no default. The penalty was reduced based on the discretion of the appellate authority, leading to the dismissal of the appeal.
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