LATIF JUTE MILLS LTD. versus EXECUTIVE DIRECTOR (COMPANY LAW), SEC
Section 265 (b) Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 20 (4) Appointment of Inspector to Investigate Company Matters, Sale of Company Assets by Administration for Settlement of Loans, Validity of the Company Had not fully met the requirements under. Section 160 (1) (b) of the Companies Ordinance, 1984, the proper way to handle the obligations of the company, which was no longer a concern, would end where a company had closed its business and There was no plan for rehabilitation, so the sale of company assets would not be required by the administration to resolve the debt selection as the lenders appointed by the Law Commission could try to prevent payment priority, So that the inspector can be appointed to identify the inquiries and the matter can be investigated. The company will create \ r \ n \ r \ n
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