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The High Court of Karnataka dismissed Company Application No. 683 of 1998 filed by K.S.F.C. seeking relief from depositing initial expenses of Rs. 5,000 for the Official Liquidator. The Court justified its decision by stating that financial institutions like K.S.F.C. can be asked to contribute towards expenses due to their larger claims and financial stake in the proceedings. The application was dismissed as the Court found the order to be perfectly justified.
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