NATIONAL BANK OF PAKISTAN versus ITTEFAQ FOUNDRIES (PVT.) LTD.
Section 284 Contract Between Financial Institutions (Secured Lenders) and Company Management Payment of outstanding dues The sale of charged assets In the present case, the financial institutions were the lenders of secured group companies and the secured lenders. Contracting companies have secured all the members / shareholders of the company who have agreed to the contract under section 284 of the ordinance, 1984, to settle the outstanding dues under section 284 of the Ordinance 1984, the effect is all living The legacy of some of the deceased members of the shareholders and the group companies is such By forming the total equity and 89 constitution of the voting power, the Companies Ordinance submitted letters of consent for this arrangement under section 284 of 1984, including restoration of their outstanding dues from sale. ? The assets offered have no value of Rs. 0 billion as basis, none of the shareholders opposed the management or sale of the assets offered at the stated price. The purpose of the arrangement is to fully meet the amount owed by the group companies to the secured creditors who were awaiting the decision. For the past sixteen years, the purpose of financing the present petition was to obtain from the sale of property imposed on financial institutions, as no such contract was disputed by any other claimant, lender or right. Securities lenders of group companies, ie group companies, unanimously support the proposed arrangements under section 284 of the Companies Ordinance 1984 and 6 billion under section 284 (2) of the Companies Ordinance.
Related judgments — Lahore High Court Lahore, 2014
