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2002 (2) TMI 1236 - HC - Companies Law
The High Court of Allahabad confirmed the opinion of the Board for Industrial and Financial Reconstruction to wind up a company under the Sick Industrial Companies (Special Provisions) Act, 1985. The company was declared sick in 2000, with no revival scheme submitted despite efforts. Bank of Baroda had no objection to the wind up, and the company's assets will be liquidated by the official liquidator as per the Companies Act and Rules.
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