Law: Companies Ordinance, 1984

Section: 305,306

Companies Ordinance (XLVII of 1984)-------Ss. 305 & 306---Petition for winding up of company---Failure to serve notice on the registered office of company---Effect---Stage for adducing evidence having not yet reached, it would be undesirable to say whether petitioner was or was not entitled to the presumption afforded by cl. (a) of subsection (1) of S. 306, Companies Ordinance, 1984,. that demand notice had been served at the company's, registered office---Such question was left to be decided at the appropriate stage---Petitioner, even if not entitled to such presumption would, however, be entitled to prove to the satisfaction of Court that the company was unable to pay its debts---Objection relating to non-service of notice having no merit was dismissed in circumstances. ORDER I have heard the learned counsel for the parties on the effect of the petitioner's failure to serve on the respondent-Company a notice in terms of section 306, subsection (1), clause (a) of the Companies Ordinance, 1984, by delivering it at its registered office. Learned counsel for the respondent ­Company argued on the assumption that the petitioner's petition (C.O.No.7/90) is a petition under section 306 of the Companies Ordinance. The assumption is wrong because it is a petition for the winding up of the respondent-Company under section 305 read with section 309 of the Companies Ordinance, 1984. The winding up of the respondent-Company is sought on two grounds (i) that the respondent-Company is unable to pay its debts and (ii) that the respondent ­Company has suspended its business for the last about three years. In other words the petitioner's case falls to be dealt with under section 305, clauses (c) and (e) of the Ordinance. Section 306 of the Ordinance provides that a company shall be deemed to be unable to pay its debts if a creditor has served on the company, by causing the same to be delivered by registered post or otherwise at its registered office a demand under his hand requiring the company to pay the sum due and the company has for thirty days thereafter neglected to pay the sum or to secure or compound for it to the reasonable satisfaction of the creditor; or fib) if…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492