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MESSRS PAKISTAN INDUSTRIAL LEASING CCRPORATION LTD. versus MESSRS SUNRISE TEXTILES LTD. THROUGH CHIEF EXECUTIVE

In the case of termination of Sections 297, 309, 311 and 321 Companies (Court) Rules, 1947, Rr 236 and 237, the Company participated in the bid for sale of the Company's holder's assets, with the permission of the Court, and was declared successful. The bidder's court had to ensure that the highest bid would be obtained and that the participant's order would not work to the detriment of the decision maker. In the case of individuals or companies making decisions, their rights can be protected by determining the reserve price. With regard to the subject matter of the sale, as it was assessed in 1994, such valuation will not reflect the current status of these assets, especially in cases where the deck holder participates in the bid sale. To choose from. On the basis of the petitioner's objection, it should not be set aside that in accordance with the CPC clauses which are under Rule 64 to 73 of the AXI, the CPC did not comply. Nodal, and thus cannot be certified / cannot be approved in terms of R236 Companies (Court) Rules, 1947. Under the circumstances, the reserve price is required for a market to buy a property at a competitive price Please agree that the auctioneer's participation in the auction was a breach of the implied rights. Based on fresh review / property inspection by the High Court, the order has been ordered to reserve fresh sale with reserve price \ r \ n \ r \ n advocate from Chak Jhumra lawyer