Reduction of penalty - no reason whatsoever is given for reducing the penalty from ₹ 20 lakhs to...

Reduction of penalty - no reason whatsoever is given for reducing the penalty from ₹ 20 lakhs to ₹ 1 lakh except observing that it "appears to be excessive". - the breach has been committed by the respondent. More serious breach is the violation of undertaking given to this Court - Penalty not to be reduced - SC .....

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