ALLIED BANK OF PAKISTAN LTD. versus SAFA TEXTILE LIMITED
Section 7 Banking Companies (Debt, Progress, Credit and Recovery of Financial Issues) Act (XV of 1997), Section 9 Financial Institutions (Financial Restitution) Ordinance (XLVI of 2001), Section 2 (C) (D), 7 And 22 Civil Code of Conduct (v. 1908), O VII, R 10 suit for specific performance of the written contract and sponsorship agreement, the public offering of shares by the public offering to increase the share capital of the defendant company In the case of Kush, the buyer and the other defendants participate in a fixed number under the sponsor agreement, under which they fail to acquire the shares of the other defendants, on which the bank has written What was the income In the case of a public offering, the ownership of the property is subject to a return by the banking court, the bank can claim that the shares are the property, and the purchase of the under-art by the bank with the definition of the share financing. There was a real estate purchase. The properties were a fixed type of property and the certificates of the shares were the goods which, once issued to the buyer on account of the shares of the Goods Act, 1930, became the shareholders of the company. At this time, the act of issuing fresh share capital by the property company would not be the sale of the property. The underwriting obligation of the bank was not by the sponsor company, it was the directors and / or sponsors who were The responsibility of the bank in connection with a written contract / transaction by legally separate and separate persons is not considered to be finance in the meaning of Section 2 (d) of the Financial Institutions (Recovery of Finance) Act, 2001 Can be appealed by the Principals High Court
Related judgments — Karachi High Court Sindh, 2013
