Law:

Section:

(a) Companies Ordinance (XLVII of 1984)--- ----S. 306---Winding-up of company---Non-service of statutory notice--Effect---Non-service of statutory notice on respondent would not be of much consequence, for in that event only presumption arising under S.306, Companies Ordinance, 1984, might not be lawfully drawn. (b) Companies Ordinance (XLVII of 1984)--- ----Ss. 305 & 309---Civil Procedure Code (V of 1908), O.XXXVII, R.3--- Petition for winding up of company for failure of same to pay its debts--Petitioner's suit for recovery of such amount was pending adjudication in High Court wherein respondent had been permitted leave to appear and defend suit unconditionally---Effect---Any expression of opinion by Court about liability of respondent for payment of debts or its liability to pay, in peculiar circumstances of case, would neither be just nor proper---Winding up proceedings, in any event, could not be used as lever for pressurising respondent (Company) to pay debt which was seriously disputed by it---Petitioner by filing winding up petition after eight years of filing of suit for recovery, appears to have resorted to winding up proceedings to pressurise and coerce respondent to come to terms--Winding up of respondent (Company) would neither be just nor equitable without determining debts outstanding against such company and definite verdict that it was unable to pay the same---Petition for winding up, held, was not maintainable in circumstances. Halsbury's Laws of England, Vol. VII, paras.212-213; Federation of Pakistan v. Standard Insurance Company Limited PLD 1986 Kar. 409; Ulbricht's Wwe. GES M.B.H., Austria v. Ulbricht's (Pakistan) (Private) Ltd. PLD 1992 Kar. 249; Pakistan v. Standard Insurance Company Limited 1986 MLD 2762; Abdullah Bhai v. Saria Rope Mills Limited PLD 1971 Kar. 597; Alliance Motors (Pvt.) Limited 1997 MLD 1966 and Metito Arabia Industries Limited v. Gamon (Pak.) Limited 1997 CLC 230 ref. THIS JUDGMENT DELIVERED BY: RANA BHAGWAN DAS, JUSTICE:---.--- In this petition for winding up of respondent-company under the provisions of sections 305 and 309 of the Companies Ordinance, 1984 (hereinafter referred to as ' the Ordinance'), sole…

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