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1997 (10) TMI 327 - HC - Companies LawExtract: .......ssion by the Punjab National Bank who had advanced loans to the company under hypothecation. 6. Thus, taking into consideration all the facts and circumstances, no case for punishing non-applicants under sub-section (5) of section 454 is made out. The application is, therefore, dismissed and non-applicants are hereby discharged. SCL q MARCH 5, 1998
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