LAHORE DEVELOPMENT AUTHORITY versus INVESTMENT CORPORATION OF PAKISTAN
Section 4 (e) (i) Ordinance of Companies (XLVII of 1984), Sections 10, 305 and 333 of the Company has been canceled by the Auction Development Authority Company Judge of the Summit Industrial Plots, without any effective action. In presence. After the cancellation of the plot taken by the Development Authority, such cancellation was treated as having no legal restriction, thus, executing the sale process in favor of the auction buyer to the official levyholder. Directed by The High Court dismissed the appeal filed by the Intra-Court Development Authority. Not manageable The legitimate company had deliberately concealed the facts of the court regarding such cancellation The restoration of the canceled plot was not in conformity with the provisions of the Development Authority (Regulation) Act 1998, which instead of an open allotment auction I had to sell. Appeals have been granted leave to consider the shortcomings of the parties at the time of hearing of the recent date, for example, in the light of incompetence and errors of development authority, the company intentionally concealed the cancellation of the plot by the company. , State law to verify the law and potential loss as set out in the Hyderabad Development Authority case (PLD 2002 SC 84).
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