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INVESTMENT CORPORATION OF PAKISTAN versus SUNSHINE JUTE MILLS LIMTIED

Sections 319, 320, 421, 422, 284, 285 and 429 Corporate and Industrial Reorganization Corporation Ordinance (L of 2000), Tizemon State Bank of Pakistan, BPD Circular No. 29 Restoration of Non-performing Assets and Industrial Plans (Legal proceedings ) In the present case, the Ordinance (LVIII of 2000), Sections 3 and 4 of the Power Court of the Company to withdraw the order and to confiscate the assets of the Company independent of the possession of all companies from the Scope Limitation Company in this case Will issue instructions to the Liquidator. , Was ordered to injure the Company / Appellant in the year 2005, 1997, it was claimed that a lending consortium under the BPD Circular No. 29, by the State Bank of Pakistan, on a settlement / settlement. Had arrived Applicants / companies were required to pay a forced sale price to the lenders. That some additional payments were also made. That all the lenders were paid. That litigation against the corporation of the corporation and industrial restructuring is pending in the Supreme Court. The agreement between the parties had already been implemented and it was prayed that the order to withdraw from 29 1997 to 1997 should be withdrawn and the liquidator should be instructed to take possession of the assets of the company free of any obstruction. Submit the applicant company Recognized that if the Company's request is granted and there are existing changes / constraints on the assets, the Law and Corporate and Industrial Reorganization Corporation has also admitted that the Company is allowed to redeem the Company at its own costs and costs. May be. The facts and statements state that the corporation received the settlement payment property advocate from Haroonabad lawyer