INVESTMENT CORPORATION OF PAKISTAN (I.C.P.) versus COTEX MILLS LIMITED
Companies Ordinance 1984 Sections 305 and 309 Appealing window to cover the company failed to pay its debts on the basis of the company and in view of the huge financial liability, the company's replacement seemed to have disappeared. The company made a profit in the year but the profit was not distributed to shareholders in previous years as the company suffered losses in previous years. The facts and circumstances clearly indicate that the company Was unable to repay its loan to the lenders, Not in Seattle. Under the Companies Ordinance, 1984, it would be fair and reasonable to instruct the government to handle the affairs of the state-owned company.
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