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MUHAMMAD RAHIM versus MESSRS THARPARKAR SUGAR MILLS LTD., THROUGH CHIEF EXECUTIVE

Sections 292 and 290 caused tremendous financial problems that created the situation that all the lenders of the company were demanding their money, after failing to release the outstanding, the lenders resorted to litigation. And the case was filed before the competent court. The company had grown tremendously to give some justification and excuse from the company for delaying the start of the project, which resulted in the termination of the case, ending the petition under section 292, the Companies Ordinance 1984. It was Transfers have been transferred by the lenders to achieve the relief that the company and the financial institutions that provided the company financing may appoint a recipient, administrator and manager to run the company in consultation with its directors. Is. To schedule and reorganize and to observe interruption in the interim period, and that the High Court should declare that the financial institutions were not entitled to any interest and / or to mark the property HC. Prayer refuses to give relief. That there was no justification for the appointment of an administrator and it was further stated that the applicants should, in consonance with the State Bank of Pakistan, refer to the Reorganization and Rescheduling Committee appointed by the Government of Pakistan, which is the feasibility of the company. Can investigate and release. Instructions for reorganization and rescheduling law firms from New Saeedabad lawyer