MUHAMMAD IQBAL versus SAMPAK PAPER AND BOARD MILLS
Section 5 405 Constitution of Pakistan (1973), Article 185 (3) Responsibilities of Companies The proposed scheme for distribution of the sale proceeds from the sale of assets settled by the claims was approved by the Company Judge and the official levyholder Payments made to former employees of the company were raised by ex-employees of the company, that the order regarding the scheme for distribution of sales revenue should have been a detailed order and after payment of the income tax, the ex-employees of the company Yesterday claims should have been satisfied and even secured creditors' claims should be acknowledged. Former employees of the company were considered as preferential claimants and according to the law, the money was properly distributed and their claims were properly satisfied. No detailed order was required for distribution. The company was ordered to be injured by a detailed order. After that, it was a matter of the official levyholder receiving the claims from the lenders, demanding the execution of the final scheme for checking and distributing the claims. Presenting their recommendations to the company judge, no one, including the applicant, had objected to the proposed distribution scheme, therefore, it was finally approved by the company judge and the company as properly and legitimately approved by the lenders. Distribute the amount to the secured creditors approved by the Company Judge for distribution of the sale in the Supreme Court Refused to intervene in the same intervention
