INVESTMENT CORPORATION OF PAKISTAN (I.C.P.) versus GLOREX TEXTILE LIMITED
Grounds for coordinating the Companies Ordinance 1984 Sections 305 and 309 were grounds that the company was under heavy financial burden. The company failed to pay even when the investment was payable in fixed installments on specific dates. , The company intentionally suppressed material facts with an ulterior motive in suppressing material facts. The company was responsible for wounding its creditors (applicants), as there was no possibility of rescuing assets and company property, and appointed government officials as the official liquidator to handle the affairs of the company. had gone.
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