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[Cites 0, Cited by 0] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(b) in The Industrial Finance Corporation Act, 1948

(b)is, or at any time has been, adjudicated insolvent or has suspended payment [of his debts] [ Inserted by Act 78 of 1952, Section 5.] or has compounded with his creditors; or