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Companies Act   and that the complainant have to wait  for the rateable distribution. 4. The evidence  adduced consisted

appellants is that the proceedings under the Companies Act for rateable distribution which is formulated by the Single Bench of the High Court, Madras

liabilities of the bank are more than its assets, he has to distribute the amount so recovered so that most of the liabilities ... amount to the creditors of the bank on rateable basis as provided by Section 74 of U.P. Co-operative Societies Act. 7. Learned Counsel