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2000 (7) TMI 907 - HC - Companies Law

The High Court of Allahabad ordered the winding up of Rajinder Pipes Ltd. due to failure to pay a loan of Rs. 50 lacs, resulting in a total due amount of Rs. 73,46,712 plus interest at 37 per cent. The respondent-company was found unable to pay its debt, leading to the appointment of the Official Liquidator.

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