1997 (3) TMI 332

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..... for the Respondent. [Order].   Penalty of Rs. 1.50 lacs on the first applicant and Rs. 1.00 lac each upon the other two applicants. 2.  I have heard both sides. Stay applications restored for various grounds in the application. 3.  The main contention of the Advocate for the applicants is that the overdrawal in the ledger was on account of negligence, in that the person who was .....

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