1991 (12) TMI 45

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..... he petitioners and had also issued restraint orders under section 132(3). These restraint orders were in respect of refunds which were to be made by the petitioners to the persons enumerated in the list running in 29 sheets. These refunds were because of oversubscription to the shares which have been offered to the public by the petitioner. During the pendency of this writ petition, the earlier .....

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..... applications and though, most probably, the said order has been strictly complied with but if in a few of such cases, by oversight, refunds have been made, then no penal action should be taken against the petitioners. Mr. Rajendra, very fairly, submits that, in such cases of bona fide omission or mistake, no penal action as contended will be taken. With these observations, the petition stands disp .....

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