BASF (PRIVATE) LIMITED THROUGHBRANCH MANAGER AND DULY CONSTITUTED ATTORNEY versus SPECTRUM (PRIVATE) LIMITED
The Companies Ordinance 1984 Section 305 termination of the Company's Respondents did not cope with this request, which resulted in her being injured and the Official Liquidator appointed as an Official Liquidator. It was revealed that the registered office of the company was not present. The applicant's credit was Rs one lakh. One of the company's two lenders did not respond to the bank, while the other said there was no outstanding balance against the company. Of the company's 7 debtors, two major companies refused to lend to the company. Apart from the Rs 1,100 deposited in the liquidator account, the company did not have any assets in the hands of the public liquidator, therefore, it was not possible to return any money to such lenders, in which case the company had to be legally dissolved. ? The status of the company disclosed by Official Liquidator was disappointing, as there was no possibility of recovery as further pressure was put on the applicant to pay the official liquidator, so it would be appropriate and reasonable for the company to dissolve the company. Dissolved the company with information. Registrar proceed in accordance with the law
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