(1.) Heard.
(2.) The petitioner No. 1 is a private limited registered under the Companies Act, 1956 having registered officer at Bombay. Petitioners by this petition are seeking to challenge the orders dated 2nd January, 1986; 3rd June, 1986 and 23rd July, 1986 incorporated at Exh. G; Exh. I and Exh. J respectively. The petitioners are also challenging the consequential order imposing penalty and, consequently, claiming refund of penalty in the sum of Rs. 2,50,000/- paid by them.
(3.) The Facts :