| Citation(s) |
|---|
| 2019 SLG 7 2019 SLD 7 |
Supreme Court of Pakistan
CIVIL APPEAL No. 1563 OF 2014 AND CIVIL PETITIONS No. 2215-LOF 2017 AND 471-L OF 2018, decision Dated: 15.1.2019,hearing Date : 08-01-2019
MUSHIR ALAM, JUSTICE FAISAL ARAB, JUSTICE SAJJAD ALI SHAH, JUSTICE MUNIB AKHTAR, JUSTICE
Petitioner(s) by: Mr. Shoaib Ullah Cheema, in person (in C.A. No.1563/2014 and C.P. No.471-L/2018), Nemo (in C.P. No.2215-L/2017)
Respondent(s) by: Mr. Muqtadir Akhtar Shabbir, ASC SECP: Mr. Nasrullah Khan Babar, ASC
Respondent(s) by: Mr. Muqtadir Akht
CIVIL APPEAL No. 1563 OF 2014 AND CIVIL PETITIONS No. 2215-LOF 2017 AND 471-L OF 2018, decision Dated: 15.1.2019,hearing Date : 08-01-2019
MUSHIR ALAM, JUSTICE FAISAL ARAB, JUSTICE SAJJAD ALI SHAH, JUSTICE MUNIB AKHTAR, JUSTICE
Petitioner(s) by: Mr. Shoaib Ullah Cheema, in person (in C.A. No.1563/2014 and C.P. No.471-L/2018), Nemo (in C.P. No.2215-L/2017)
Respondent(s) by: Mr. Muqtadir Akhtar Shabbir, ASC SECP: Mr. Nasrullah Khan Babar, ASC
Respondent(s) by: Mr. Muqtadir Akht
SHOAIB ULLAH CHEEMA (IN C.A. NO.1563/2014)S. ZAFAR ALI SHAH (IN C.P. NO.2215-L/2017)SHOAIB ULLAH CHEEMA (IN C.P. NO.471-L/2018)VSADDITIONAL REGISTRAR OF COMPANIES, S.E.C.P. ETC.
Law: Companies Ordinance, 1984
Section: 10,10(1),10(2),265(a)(ii),290,292,326,32 6(3)
Law: Companies Act, 2017
Section: 6(1)
THIS JUDGMENT DELIVERED BY: MIAN SAQIB NISAR, CHIEF JUSTICE:---.--- 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 Shah joined government service leaving behind Mr. Fakhar Hayat as the only liquidator (the Liquidator). On 31.05.2013, Mr. Shoaib Ullah Cheema (the instant appellant) filed an application before the learned High Court for removal of the Liquidator (the Application) on the ground that the Liquidator had failed to complete the winding up process within the period stipulated in Section 326 of the Companies Ordinance, 1984 (the Ordinance). This Application was dismissed by the learned High Court vide order dated 15.09.2014 (Dismissal Order) against which the instant appellant filed an appeal (C.A. No.1563/2014) before this Court under Section 10(1) of the Ordinance. Leave was granted vide order dated 21.11.2014 in the following terms:- "In order to consider whether the official liquidator having not completed liquidation process within time contemplated by Section 326 of the Companies Ordinance, 1984 was liable to be removed and the audit of the company under liquidation was expedient and imperative; the true import and spirit of Section 326(3) of the Ordinance ibid, leave is granted..." Be that as it may, on 23.02.2015, the respondent raised an objection regarding the maintainability of the appeal stating that a direct appeal to the Supreme Court under Section 10(1) of the Ordinance lies only against a winding up order of the Company Judge, and that any order passed in the winding proceedings other than the winding up order, such as the Dismissal Order, is to be assailed through an intra-court appeal before a Division Bench of the High Court in terms of Section 10(2) of the…
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