Law:

Section:

Companies Ordinance (XLVII of 1984)--S. 10 --- Constitution of Pakistan (1973), Art. 185(3) --- Winding up of company --- Petitioner and respondent making bids for land, machinery and other assets --- Petitioner's bid was rejected while that of respondent was accepted by Official Assignee --- Petitioner's appeal before Division Bench of High Court was rejected on the ground that appeal against order of, Single Judge would lie to Supreme Court in terms of S. 10(l), Companies Ordinance, 1979-Validity--­Leave to appeal was granted to consider whether words "where the company ordered to be wound up" occurring in S. 10(l), Companies Ordinance, 1984, have reference only relating to winding up of company or they would refer to any order that was passed by Court after company had been ordered to be wound up --- If such wide connotation was given to said words, then any interlocutory order passed by High Court after company had been ordered to be wound up would become appealable to Supreme Court on account of S. 10(l), Companies Ordinance, 1984. Ch. Jamil Ahmad v. Nippon Bobbin Company (Pakistan) Ltd. PLD 1991 Lah. 467; Messrs Industrial Development Bank of Pakistan v. Messrs Kama] Enterprises Ltd. PLD 1995 Quetta 41 and Brother Steel Mills Ltd. v. Mian Ilyas Miraj PLD 1996 SC 543 ref. ORDER MAMOON KAZI, J.--An application under section 305 of the Companies Ordinance, 1984 was filed by the respondent No. 1 against the respondent No.2 alleging that the latter was unable to pay its debts. This application was allowed by the learned Single Judge in the High Court ordering the winding up of respondent No.2 and consequent appointment of Official Assignee as the Official Liquidator with power to take over all the assets of the said respondents. The Official Assignee invited bids for the land, machinery and the other assets of the respondent No.2 and offers were made by the petitioner and respondent No.4 respectively, However, the offer of the petitioner was rejected and that of the respondent No.4 in the sum of Rs.375 million, subject to the terms of reference, was accepted. Feeling aggrieved by such order passed by the learned Judge in Chambers, the petitioner filed a High…

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