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1992 (12) TMI 195 - HIGH COURT OF KARNATAKAExtract: .......not be in the interest of the creditors and the company. The scheme is put forward by the applicant propounder mainly for the purpose of prolonging the winding up proceedings. That apart, the scheme is extremely vague. In view of the above discussions, Company Application No. 873 of 1991 is dismissed with costs. The cost is quantified at Rs. 3,000.
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