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1970 (12) TMI 61 - HIGH COURT OF ALLAHABADExtract: .......dings will, of course, be treated as a discharge of the liabilities to the extent of payments made. As regards the allotment of shares of Auto Hind Industries, it will be open to the Premier Motors to buy back these shares at par only after the remaining liabilities towards the depositors to whom the shares have been allotted, have been discharged.
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