Law: Companies Ordinance, 1984

Section: 305

Companies Ordinance (XLVII of 1984)--S. 305(c,)---Winding-up of company on ground of not doing business for many years---Validity---Non-cooperation between different groups of shareholders had created deadlock in the affairs of company---Business o f company was at a standstill for many years and had suffered losses---Company was neither commercially solvent nor was there any chance of its doing business in near future at profit---Company was owned by three groups but estranged relationship between them had reached a point, where they could not work together for benefit of company---Suspension of business by a company for more than a year and continuous incurring of liability would be a ,sufficient ground for passing order of its winding up---High Court wound up company and appointed its Official Liquidator. Punjab National Silk Mills Ltd. v. National Bank of Pakistan and another 1986 SCMR 1126; In re:` Synthetic Chemicals Co. Ltd. PLD 1985 Kar. 193; Investment Corporation of Pakistan and others v. American Marble Products Ltd. 1998 CLC 514; Pakistan State Oil Company Ltd. v. Pakistan Oil Pipelines Limited and others PLD 1993 Kar. 322; Qamar Lone and others v. Kashmirian (Pvt.) Ltd. and others PLD 1997 Kar. 376; Sh. Maqbool Ellahi and others v. Basul & Co. and others PLD 1970 Lah.539; Mrs. Sabiha Shahid Raza v. Ahmad Construction Company (Pvt.) Ltd. PLD 1990 Kar. 191; Mirza A. Rustom v. Karim Silk Mills Ltd. PLD 1975 Kar.40 and Ali Women Mills Ltd. v. I.D.R.P. PLD 1990 SC 763 ref. ORDER Civil Miscellaneous Application No. 1649 of 2003 Through this application under rule 110 of the Sindh Chief Court Rules, it is prayed that the application under Order 1, rule 10, C.P.C., be treated as urgent motion and may be heard today, i.e., 13-8-2003. This application is granted as prayed. Civil Miscellaneous Application No. 1650 of 2003 Through this application under Order 1, rule 10, C.P.C., it is prayed that the Intervenor may be joined as petitioner No.4 and his claim as 25% shareholders of the respondent-Company may be considered by the Official Liquidator. Both Mr. Bashir Ahmed Khan and Mr. Nadeem Azhar Siddiqui, oppose this application. The question of…

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