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1982 (7) TMI 76 - ALLAHABAD HIGH COURTExtract: .......the proceedings have been quashed. The assets retained under s. 132(5), therefore, have to be retained to deal with in the manner provided under s. 132B. It is, hence, not correct to say that there is no liability under the Act outstanding against the petitioner. The petition is, hence, wholly misconceived and is, accordingly, dismissed with costs.
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