Law:

Section:

(a) Companies Ordinance (XLVII of 1984) Ss.316 & 313 Object of S.316, Companies Ordinance, 1984 Mere pendency of the winding up petition ipso facto does not operate as a bar to any suit or proceedings by or against the Company Bar only operates on actual winding up order or the order appointing. Provisional Manager ¬Principles. From the bare perusal of subsection (1) of section 316 of the Companies Ordinance, 1984 it is abundantly clear that mere pendency of the winding up petition ipso facto does not operate as a bar to any suit or proceeding by or against the Company. Bar, only operates on actual winding up order or the order appointing Provisional Manager. Object of section 316 of the Ordinance, 1984, is to regulate the pending suit or proceedings pending in any other Courts so that none of the creditors may be prejudiced, their rights and interest are not adversely affected while distributing the assets of Company, amongst them, in accordance with their entitlement and priority if any. The Company Court assumes special jurisdiction over pending suit and proceedings only after the winding-¬up order is passed or when Provisional Manager is appointed to try itself all pending suits or proceedings by or against the company either by itself or grant permission to continue such suit or proceedings pending in any other Court. Such view also finds support from the facts that power to stay any suit or proceeding against the Company are exercisable by the Company Court under section 313 of the Ordinance, 1984 at the motion of company or any of its creditors or contributors any time after presentation of the winding up petition and before the winding up order is made. Messrs Mackinnons Mackenzie & Company v. Mrs. Musarrat Jawed and others Civil Revision Application No.85 of 1998 and Messrs Mackinnons Mackenzie & Co. v. Messrs The Eastern Federal Union Insurance Company Limited and others Civil Revision Application No. 109 of 1997 and Ulbricht's WWE, GES M.B.H.A. Schwanenstadt/Kaufing, Austria v. Ulbricht's (Pakistan) (Pvt.) Ltd. 1990 CLC 1329 ref. (b) Companies Ordinance (XLVII of 1984) Ss.316 & 313 Stay of suit on winding up Agents (respondents)…

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