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PAKISTAN INDUSTRIAL CREDIT AND INVESTMENT CORPORATION LIMITED versus ELECTRIC LAMP MANUFACTURERS OF PAKISTAN LIMITED

Ordinances of Companies 1984 Sections 305 and 306 Unable to pay a debt to the company, a recognized ground for coordinating a company under section 3055 of the Companies Ordinance was created under section 306 of the statute, which No company was considered to be eligible under. Pay your debts if a lender demands notice to the company and demands that the company be paid and the company neglects to pay that amount thirty days later, or to the satisfaction of the lender. Protected or ignored. Companies have the ability to demonstrate their ability to repay their debts due to legal fiction and failure of the Company to respond to the notice under section 306 of the Ordinance, 1984, and that the Company has no obligation to discharge its obligations There are far more assets, and because it was commercially viable and that its obligation was fully secured, there will be no room for refusal. In connection with the amount claimed by the lender, the case for termination of the company was clearly presented, the company was ordered to be injured. famous high court advocate from Amangarh lawyer