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CORPORATION Ltd. and others‑‑Respondents

Civil Petitions Nos. 246 and 247 of 1984, decided on 19th March, 1984.

‑‑‑Art. 185(3)‑‑Companies Act (VII of 1913), Ss.175 & 176‑‑Winding‑up of company‑‑Remuneration of liquidator‑ ‑Leave to appeal granted to consider rule to govern High Court in fixing remuneration of liquidator.

Abid Hassan Minto, Advocate Supreme Court with Mr. Walayat Umar Ch.,

Advocate‑on‑Record for Petitioners (in both Petitions).

Raja Muhammad Akram, Advocate Supreme Court with Sh. Salahuddin,

Advocate‑on‑Record for Respondent No.1 (in C.P.247/1984).

Date of hearing: 19th March, 1984.

‑‑These petitions were put up in connection with Civil Miscellaneous Petition No.206 of 1984 in C.P.S.L.A. No.246 of 1984 and C.P.S.L.A. No.247 of 1984, but we have heard the learned counsel for the petitioner and Raja Muhammad Akram on behalf of the Caveator in both the petitions for leave to appeal at length and propose, with the consent of the learned counsel for the parties, to proceed to dispose of the petitions for leave themselves, rather than to deal with the miscellaneous matters only.

Leave is granted to consider the rule which should govern the High Court in fixing the remuneration to be allowed to a Liquidator, appointed by it for winding‑up and liquidating a Company, namely, whether this should be in the nature of a fixed commission on the sale of the assets of the Company in liquidation or he should be allowed a fixed salary or both; as also the principles on which the orders in this respect should be founded.

The prayer for an interim order is rejected but the appeals shall be made ready on the present record and put up for hearing on a very early date. Furnishing of security is, however, dispensed with.

The parties shall also file concise statements.

S. Q. Leave granted

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