2001 (8) TMI 212

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....]. - We have heard the advocate for the applicant Naresh Shah. Applicant Mahesh Ganatra is absent and unrepresented despite notice. 2. Applications are for waiver deposit of penalty imposed on Naresh Shah of Rs. 30.00 lakhs (application 112), and Rs. 50.00 lakhs (application 114) imposed on him under Section 112 of the Act, and by Mahesh Ganatra of Rs. 10.00 lakhs (application 604) and Rs. 20.0....