| Citation(s) |
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| 2026 SLG 557 2026 SLD 557 = 2026 SHC 406 |
Sindh High Court
J.C.M. No. 06 of 1990
Presented By: Adnan Iqbal Chaudhry J.
In the matter of the Companies Act, 2017 And M/s. Ali International, an unregistered company in liquidation Official Liquidator : Dr. Chaudhry Wasim Iqbal, Official Assignee. Objector : Through Syed Fazal-ur-Rehman, Advocate. SECP : Through Mr. Kehan Khan, Advocate. Date of hearing : 13-10-2025 Date of Announcement : 23-02-2026
J.C.M. No. 06 of 1990
Presented By: Adnan Iqbal Chaudhry J.
In the matter of the Companies Act, 2017 And M/s. Ali International, an unregistered company in liquidation Official Liquidator : Dr. Chaudhry Wasim Iqbal, Official Assignee. Objector : Through Syed Fazal-ur-Rehman, Advocate. SECP : Through Mr. Kehan Khan, Advocate. Date of hearing : 13-10-2025 Date of Announcement : 23-02-2026
Hon'ble Mr. Justice Adnan Iqbal Chaudhry(Author)
Law: Companies Ordinance, 1984
Section: 443, 444,328, 351(1)
Law: Companies Act, 2017
Section: 427, 428,
Summary of the Case This matter relates to the winding-up of M/s. Ali International, an unregistered company, initiated in 1990 on the petition of a creditor due to fraud against investors. During liquidation: A property in North Nazimabad was listed as an asset of the company. An objector (Muhammad Anwar) claimed ownership, alleging he had purchased the property legally through a Power of Attorney. The managing partner (Muhammad Ali) denied this, alleging: The Power of Attorney was forged The property was bought using investors’ money The Official Liquidator requested the Court to: Declare the property as company asset, OR Allow filing a suit to cancel fraudulent documents ✅ Court’s Findings: Under section 326, the Court can only pass orders if a person admits possession of company property. Since the objectors denied ownership of company, the Court cannot declare the property as company asset. The Court also cannot cancel documents under this section. ✅ Final Decision: Request to declare property as company asset → ⌠Rejected Permission to file civil suit → ✅ Allowed (subject to limitation) Request for FIA NOC → ⌠Dismissed (no jurisdiction) 🔹 Sections / Laws Used Section 443 – Companies Ordinance, 1984 (Unregistered company definition) Section 444 – Companies Ordinance, 1984 (Winding-up of unregistered company) Section 427 – Companies Act, 2017 (corresponding provision) Section 428 – Companies Act, 2017 (corresponding provision) Section 328 – Companies Ordinance, 1984 (Statement of affairs) Section 351(1) – Companies Ordinance, 1984 (Court inquiry powers) Section 329 – Companies Act, 2017 (Powers of Court) Section 326 (5) & (6) – Companies Act, 2017 (Recovery of property based on admission) 🔹 2 × Two-Word Descriptions Property Dispute Liquidation Proceedings O R D E R This order answers Reference No. 07/2025 made by the Official Liquidator, and with it, CMA No. 560/2024 and CMA No. 3565/2025. This petition was filed on 15.02.1990 for the winding-up of ‘M/s. Ali International’ (Respondent No.1), which was a partnership firm of…