In Brief
SEBI issued an order against the respondent company on 9th September 2004. The Securities Appellate Tribunal later suspended this order on condition that the company deposit Rs. 30 Crores with SEBI within six months. The company failed to deposit the amount. The Supreme Court held that non-compliance with the condition meant the suspension became ineffective, and the original SEBI order stood revived. The appeal was allowed and the Tribunal's order was set aside."
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