https://www.taxtmi.com/caselaws?id=112325 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. en-us Fri, 28 Sep 2007 00:00:00 +0530 Fri, 27 Apr 2012 16:18:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112325 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. Case-Laws Companies Law Fri, 28 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112325