PAKISTAN INDUSTRIAL-CREDIT AND INVESTMENT CORPORATION versus UNITED TEXTILE MILLS LTD
The Ordinance of Companies 1984, Section 401 and 404 of the Provincial Insurance Act (V of 1920), Section 47 (2), by the termination of the company, was appointed by the court cell to the official levyholder under the court order of the case to which the lender The lender refuses to accept the said term deposit receipt in the name of the sale with the lender bank and in the form of a Term Deposit Receipt Bank, with interest because the bank is a secured Is entitled to be a lender - The other entity under the Validation Protection Bank entering into liquidation proceedings to adjust this amount Waiting with the lenders and entering the alignment process with other lenders to get their share. By any imagination, the security lender should be treated like a bank, therefore, was not entitled to retain the deposit amount with interest accrued by the liquidator.
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