NATIONAL BANK OF PAKISTAN versus MOHIB TEXTILE MILLS LTD.
Sections 305 and 350 Companies (Court) Rules, 1973, RR 246, 247 and 248 Rehabilitation and Termination of Company Assets Remand and dissolution of the High Court case from the Supreme Court for the fresh sale of company assets and its Assets auctioned. The auction proceedings were not blamed on the joint official liquidators or the auction buyer for wrongdoing or fraud, however, the former administration claimed that more people and companies were ready. Offer far more value than the amount for which the company's assets were sold. The Supreme Court set aside the prior sale in favor of the auction / buyer, directing the auction of the assets of that company. All attempts were made on remand. Fresh Joint Official Liquidators for the sale of company assets through fresh auctions, but the Supreme Court's failed mandate failed to sell the company's assets through fresh auctions. In this regard, the letter was sought after the fulfillment of all legal requirements, including wide publicity and fixed pricing. In the current economic crisis, hardly any prospective buyer will come forward to purchase these assets. do not have. Had already been deducted and any further reduction would be against the interest of all concerned solitary buyers in the sector from which the High Court had already charged the buyer for the cost of the leased assets, the reserve fixed Was offered more than the price. Payments to lenders and payment to WAPDA for maintenance of electricity, during the last three years, were the property of Joint Official Liaidators.
Related judgments — Lahore High Court Lahore, 2010
