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2013 (4) TMI 335 - KARNATAKA HIGH COURTApplication u/s 543 – Directors of respondent Company (in winding up) abused their fiduciary position – breach of trust – non furnishing investments documents – Held that - As Official Liquidator does not state what was the value of these shares as on the date of winding up order was passed or even as on the date of filing of statement of particulars by ex-directors so as to arrive at a conclusion that on account of such non-handing over of shares certificates it has resulted in financial loss to the company (in liquidation) which otherwise would not have occurred. Considering same view that none of these ingredients being present in this application hence, application stands rejected.
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