| Citation(s) |
|---|
| 2019 SLG 2495 2019 SLD 2495 2019 PLJ 434 |
Supreme Court of Pakistan
C.A. No. 1563 of 2014 and C.P. No. 2215-L of 2017 and 471-Lof 2018, decision & hearing Dated: 08.01.2019. (Against theimpugned judgments Dated 15.9.2014, 19.6.2017 and 22.2.2018passed by the Lahore High Court, Lahore in C.O. No. 51/2013,C.M. No. 37/20
MIAN SAQIB NISAR, HCJ MUSHIR ALAM, FAISAL ARAB, JUSTICE SAJJAD ALI SHAH, JUSTICE MUNIB AKHTAR, JUSTICE
Petitioner(s) by: Mr. Shoaib Ullah Cheema, in person (in C.A. No. 1563 of 2014 and C.P. No. 471-L of 2018).Nemo (in C.P. No. 2215-L of 2017).
Respondent(s) by: Mr. Muqtadir Akhtar Shabbir, ASC and Mr. Nasrullah Khan Babar, ASC SECP.
C.A. No. 1563 of 2014 and C.P. No. 2215-L of 2017 and 471-Lof 2018, decision & hearing Dated: 08.01.2019. (Against theimpugned judgments Dated 15.9.2014, 19.6.2017 and 22.2.2018passed by the Lahore High Court, Lahore in C.O. No. 51/2013,C.M. No. 37/20
MIAN SAQIB NISAR, HCJ MUSHIR ALAM, FAISAL ARAB, JUSTICE SAJJAD ALI SHAH, JUSTICE MUNIB AKHTAR, JUSTICE
Petitioner(s) by: Mr. Shoaib Ullah Cheema, in person (in C.A. No. 1563 of 2014 and C.P. No. 471-L of 2018).Nemo (in C.P. No. 2215-L of 2017).
Respondent(s) by: Mr. Muqtadir Akhtar Shabbir, ASC and Mr. Nasrullah Khan Babar, ASC SECP.
SHOAIB ULLAH CHEEMA & OTHERSVSADDITIONAL REGISTRAR OF COMPANIES, S.E.C.P. ETC.
Law: Companies Ordinance, 1984
Section: 10(1)(2),326,326(3)
Law: Civil Procedure Code (Amendment) Ordinance (X of 1980)
Section: 15
Companies Ordinance, 1984 (XLVII of 1984)-- ----Ss. 10(1), (2) & 326, Petition for winding up of forex services of company--Illegal business of receiving deposits from public--Appointment of official liquidator--Application for removal of liquidator--Dismissed--Maintainability of appeal--Scope of a direct appeal--Challenge to--Section 10(1) enables appeals to Supreme Court against a winding up order as well as any order or decision made in winding up proceedings after a company has been ordered to be wound up--Resultantly, a winding up order as well as any order passed or decision made by a Company Judge after winding up of a company shall be appealable before Supreme Court instead of Division Bench of High Court--We find that ratio of Ibrahim Shamsi's case (supra) is good law, whereas that of Kamaluddin Qureshi's case (supra) is not, latter of which is hereby overturned--Having decided question of maintainability in favour of appellant, all these matters are hereby referred to a regular Bench which shall decide same on merit in accordance with law-Order accordingly. Companies Ordinance, 1984 (XLVII of 1984)-- ----S. 10(1)--Applicability of winding up order--Meaning of--A plain and ordinary meaning of section 10(1) of Ordinance provides that it applies to a winding up order as well as any order or decision made in winding up proceedings after a company has been ordered to be wound up--Resultantly, a winding up order as well as any order passed or decision made by Company Judge after winding up of a company should be appealable before Supreme Court instead of Division Bench of High Court. THIS JUDGMENT DELIVERED BY: MIAN SAQIB NISAR, C.J.- On 18.08.2003, the Additional Registrar of Companies, Securities and Exchange Commission of Pakistan (SECP; the respondent) moved a petition (C.O. No.51/2003) before the Lahore High Court, Lahore for the winding up of Forex Services International (Private) Limited (the Company) alleging that it was involved in the illegal business of receiving deposits from the public. On 27.04.2005, the learned High Court appointed Mr. Fakhar Hayat and Syed Zafar Ali Shah as the official liquidators. Subsequently on 21.05.2007, Syed Zafar Ali…
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