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1995 (2) TMI 292 - HC - Companies LawExtract: .......n over by the PFC and the property of the company in liquidation having been already sold. In my view, there was a reasonable excuse with the accused not to file the statement of affairs of the company. Under the circumstances, no case is made out for awarding any punishment to them. There is no merit in this petition and the accused are acquitted.
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