Law: Companies Ordinance, 1984

Section: 297

(a) Companies Ordinance (XLVII of 1984)--Ss. 297, 309, 311 & 321---Companies (Court) Rules, 1947, Rr. 236 & 237---Civil Procedure Code (V of 1908), O.XXT, Rr. 64-73 & 89-92---Winding up of company---Liquidation proceedings---Company was ordered to be wound up and official liquidators were appointed to carry winding up proceedings under Companies Ordinance, 1984---Assets of company in Liquidation were being sold in liquidation proceedings, provisions of Companies Ordinance, 1984, would govern such sale---Companies Ordinance, 1984 being a special statute, its provisions would supersede the general law---Relevant provisions of Civil Procedure Code, 1908 pertaining to Court's sales contained in Rules 64 to 73 and 89 to 92 of O.XXI, C.P.C. would have no application to the sales conducted under the provision of Companies Ordinance, 1984---Such sales were to be governed under the terms and conditions as settled and approved by Company Court---Auction conducted in the present case being on the terms and conditions as approved by the Court, sale was not liable to be set aside, merely on the pretext that the provisions of relevant rules of O.XXI, C.P.C. governing sale through Court auction, were not adhered to---Provisions of O.XXJ, Rr. 64 to 73 & 89 to 92, C.P.C., had no application in the case. Mrs. Aziz Fatima and 3 others v. Mrs. Rehana Chughtai and 3 others 2000 CLC 863; Brig. (Retd.) Mazhar-ul-Haq and another v. Messrs Muslim Commercial Bank Limited, Islamabad and another PLD 1993 Lah. 706; Mohib Textile Mills Ltd. v. National Bank of Pakistan, Karachi and others 2005 SCMR 1237; Specialty Traders v. Ferdous Textile Mills Limited 1987 CLC 2109; Syed Matloob Hassan v. Brook Bond Pakistan Limited Lahore 1992 SCMR 227 and Golden Oraphies (Pvt.) Ltd. and 12 others v. Director of Vigilance, Central Excise, 'Customs and Sales Tax and others 1993 SCMR 1635 ref. (b) Companies Ordinance (XLVII of 1984)--- ----Ss. 297, 309, 311 & 321---Companies (Court) Rules, 1947, Rr. 236 & 237---Winding up of company---Liquidation proceedings---Sale of assets of company---Decree-holder in the case, with the permission of the Court participated in bid and was…

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