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Dalmia to deposit Rs. 1 crore with SEBI
By Oommen A. Ninan
MUMBAI,
FEB. 3.
Dinesh Dalmia, former chief of DSQ Software, today agreed to deposit Rs. 1 crore with the Securities and Exchange Board of India (SEBI) to consider his appeal with the Securities Appellate Tribunal (SAT) as directed by the Tribunal. This is the first time in the history of the securities market that an appeal will be taken up for hearing after paying an amount of Rs. 1 crore as part of total of Rs. 5 crores stipulated by the SAT.
I. Subramanium, Senior Counsel for Mr. Dalmia, gave an undertaking to the SAT today that it would deposit Rs. 1 crore by tomorrow.
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