MUZAFFAR ABBAS MALIK versus PAKISTAN P.V.C LTD.
The purpose of Scrotney in coordinating the Companies Ordinance 1984 Sections 305 and 306 is to seek the Company's solvency or integrity in the termination of its proceedings, not to investigate the truth or to investigate the claims of creditors. Is where, however, the action has to be wrapped up. Was filed with intent to sue the Company for settlement of disputed debt, which is equivalent to misuse of the speculation law arising under Clause 530 & Companies Ord6, Companies Ordinance, 1984, this company Unable to pay its debts, in case it does not arise, the obligation to repay the loan was not denied but charges were raised against the applicant against the accused, to establish such charges. Will have to bear a heavy burden on the Company which no debt can be disposed of legally and inappropriately. The foundations will, in the event of non-payment, offer a valid legal ground for collapse
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