K. Nirmala vs Sebi on 18 April, 2013
2. We have minutely perused the appeal and documents annexed
therewith. At the outset, we are informed that this Tribunal by its order
dated April 18, 2013 passed in Appeal no. 38/39 of 2013 in the case of K.
Nirmala vs. SEBI and K. Nirupama vs. SEBI, keeping in view the facts and
circumstances of that case, reduced the penalty by modifying the impugned
orders therein to 50 per cent of the amount imposed by the respondent on
the appellants. In those two cases although the scrip was common but the
amount of penalty was much higher i.e. Rs. 3,25,000/- and Rs. 3,00,000/-
respectively.