Law:

Section:

Companies Ordinance (XLVII of 1984)-------S. 305---Winding up of Company---Petitioner had sought winding of the company on basis that it was incapable of liquidating its liabilities---Petitioner had contended that the company owed petitioner a sum of Rs.14,25,100 on account of civil works done by the petitioner---Company had accepted its liability---Petitioner had contended that non-payment of amount by the company had entailed winding up of the company under S.305 of the Companies Ordinance, 1984---Facts on record had established that company was not in a position to liquidate its liabilities---No opposition came from any quarter to contest the assertions made by the petitioner---Petition was allowed as prayed for---Official liquidator duly appointed was directed to take over the control of assets of the company and proceed according to law thereafter. ORDER SYED ASGHAR HAIDER, J.---This petition under section 305 of the Companies Ordinance, 1984, is for winding up of the respondent-Company on basis that it is incapable of liquidating its liabilities. 2. Learned counsel for the petitioner, contended that the respondent company owes the petitioner a sum of Rs.14,25,100 on account of civil works done by the petitioner, he also referred to the notice dated 29-8-2006, in this context whereby the respondent-Company accepted its liability, thus, according to the learned counsel this amounts to clear acknowledgment of debt and non-payment thereof entails winding up of the respondent company under section 305 of the Companies Ordinance, 1984. 3. Notices were issued to the respondents through the modes prescribed and also through publications in the Daily Nawa-i-Waqt' and Daily Dawn, pursuant thereto none entered appearance and thereafter the respondents were proceeded against ex parte on 22-1-2007, none has entered appearance even thereafter. 4. The…

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