2013 (8) TMI 730

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....the appellant only pleads for reduction of redemption fine and penalty imposed on all the 3 appellants. The company faced redemption fine of Rs.2.00 Lakhs as well as penalty of Rs.2.00 Lakhs. One Director, Shri. S.P. Sachdeva faced penalty of Rs.50,000/- and Shri Naveen Joshi authorized signatory faced penalty of Rs.25,000/-. 2. The principal argument of ld. Counsel is that the appellant when doe....