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1985 (4) TMI 53 - KERALA HIGH COURTExtract: ....... by way of adjustment of interest, without seeking to obtain prior leave of court under s. 446(1) of the Companies Act, is invalid and cannot be sustained. The ITO is, therefore, directed to refund the interest recovered to the official liquidator of the company in liquidation. The appeal is disposed of as above. There will be no order as to costs.
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