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BANK OF CREDIT AND COMMERCE INTERNATIONAL S.A. versus DUTY FREE SHOPS (PVT.) LTD., KARACHI

The petition was dismissed by the lawyer of one of the bank's joint liquidators in connection with the Companies Ordinance 1984 Sections 305, 306 and 321 of the company. As of 1997, the company owed $ 57,99,125 against the company until 1997, despite the bank taking clear notice from the company, the company did not deny the claims made against it. The direction was related to what had failed. In order to exclude his debit liability, he had to show that a certain amount of money was payable and payable against such company and that he was unable to pay his debts, regarding the outstanding balance against the bank company. Didn't know was based on the claim. The bank in the company's account statement did not enter the original copies of each transaction that led to the liability against the company, or it filed real bank guarantees that in 1985, the bank lending to the company And the company was making a profit and maintaining the stock in its display centers with millions of rupees and the company had two immovable properties which led to the termination of proceedings. The companies were to sue and its purpose was to sue the company because the money demanded by the bank was dropped under the circumstances of the company's compensation request. solicitors from Sanghi lawyer