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1994 (1) TMI 210 - HIGH COURT OF RAJASTHANOfficer in default - Whether where there is a managing director of company, directors thereof can be held to be falling within expression 'officer who is in default' as defined in section 5 and can be held liable criminally, for default in complying with requirements of sub-sections (1) and (2) of section 220 - Held, no
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