Law: Companies Ordinance, 1984

Section: 439

Companies Ordinance (XLVII of 1984)--S. 439---Removal of a company from Register of Companies on the ground of its failure to submit statutory returns as required under the Companies Ordinance, 1984---Scope---Company being in possession of known assets in the form of immovable property, provisions of S.439 Companies Ordinance, 1984 enabling the Registrar to strike off the name of the Company from Register of companies were not applicable---In the presence and availability of substantial immovable assets of the company it was otherwise lust and proper that the name of the company be restored to the Register---Principles.ORDER NASIM SIKANDAR, J.---The petitioner Messrs Combined Ginners (Pvt.) Limited was incorporated as a Private Limited Company at Lahore on 14-2-1991. The memorandum of association inter alia, contemplated establishment of a ginning factory and running other ginning business. In furtherance thereof the company purchased an area measuring 65-Kanals and 10-Marlas in Chak 417-EB, Tehsil Burewala, District Vehari through a sale deed dated 9-3-1991. The registered sale deed was subsequently reflected in the revenue record. It is stated that for certain reasons the construction of factory was delayed though the company had regularly been filling Form-A and Form-29 with the respondent/Local Registration Office of the Securities and Exchange Commission of Pakistan. It is alleged that during the months of August and September 2006 the company applied for copies of the aforesaid forms whereupon it transpired that the name of the company had been struck off the Register of Companies under section 439 of the Companies Ordinance, 1984 (for short the Ordinance) vide official gazette published on 8-2-2006. 2. Through this application under section 439(6) of the Ordinance the petitioner seeks restoration of its name on the Company Register. 3. The respondent/Registrar, Securities and Exchange Commission of Pakistan, Lahore in its reply has not controverted the factual submissions made in the petition. However, it is stated that. since the petitioner company had failed to submit statutory returns as required under the Ordinance since the date of…