Referring to the IPC provision on imposition of fine, the

bench said that it does not specify the quantam of fine which can be imposed on a convict and it has to be decided by considering the gravity of the offence.

It said that the fine imposed to the tune of Rs 60 crore is not excessive.

"However, there is no provision under the IPC for substitution of sentence by fine. The only provision is on default sentence under Section 65 of IPC. Hence, that part also requires correction," the bench said.

The apex court delivered the judgement on the pleas of CBI and Association of Victims of Uphaar Tragedy (AVUT) seeking a review of the 2015 verdict in the case asking Sushil Ansal and Gopal Ansal to serve a two-year jail term if they fail to pay Rs 30 crore each as fine.

Reacting on the judgement, AVUT convener Neelam Krishnamoorthy, who had lost her two teenage children in the 1997 tragedy, said that the verdict has "shaken" her faith in the judiciary.

Krishnamoorthy, with tears rolling down her cheeks, said, "I am very disappointed with the judgment. It has been 20 years since that tragedy and I hope they had understood the pain and anguish of the people who lost their family members." 59 people had died of asphyxia when a fire broke out during the screening of Bollywood movie 'Border' in Uphaar theatre in Green Park area of south Delhi on June 13, 1997.

Over 100 people were injured in the subsequent stampede.

Earlier, a two-judge bench of the apex court had on March 5, 2014 held Sushil and Gopal Ansal guilty, but differed on the quantum of sentence to be awarded to them after which the matter was heard by a three-judge bench.

The Delhi High Court on December 19, 2008 had awarded one-year jail term to both Sushil and Gopal Ansal in the case while reducing the two-year sentence imposed on them by the trial court.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)