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Civil Original No.47 of 1980, decided on 29th November, 1986.

---Ss.328, 329 & 484--Rejection of claim by official liquidator--Ground for--Remedy against--Official Liquidator vide his report approved by Court, rejected claims filed by petitioners before him on ground that petitioners despite notice and grant of opportunities had failed to substantiate their claims by producing any document in that respect- Order rejecting claims by official liquidator, held, could be assailed by filing review before competent Court and not by filing miscellaneous petition.

---S.350--Dissolution of Company--Order for--Certificates having been given by official liquidator (i) that claimants' claims have been verified and fully satisfied and receipts of payments obtained from such claimants have also been placed on record, (ii) that statements of expenses and assets submitted by official liquidator have been scrutinized and accepted by office as well as by counsel for State Bank of Pakistan and ex-management--Nothing remaining to be done, company, was, therefore, finally dissolved under S.350 in circumstances.

Kh. Saeeduz Zafar for State Bank of Pakistan.

Muhammad Rafi Siddiqui(in C.M.661/L of 1986 and C.M. 662/1, of 1986) .

The petitioners in these two petitions seek verification of claims filed by them with the official liquidator. The official liquidator vide report No.13 had rejected the claims filed by the petitioners as despite notice and grant of opportunities they had failed to substantiate their claims by producing any documents. The petitioners submitted applications without copies of the pass-books, deposit-slips or withdrawal slip/cheque book. The above-said report of the official liquidator was approved by this Court on 7-7-1986. These petitions were filed on 26-11-1986 without any documents whatsoever. These petitions appear to have been prepared on 23-11-1986 but were filed on 26-11-1986 and were noted for 29-11-1986. The official liquidator states that Muhammad Tahir one of the claimants appeared before him on 18-11-1986 and was informed again that the claims filed by him and Iftikhar Ahmad Khan, his brother, were rejected as these were not supported by documents. He adds that even on 18-11-1986 no document was produced before him by Muhammad Tahir Mr. Muhammad Rafi Siddiqui Advocate states that he has also not seen any documents in possession of the petitioners. He, however, seeks further time for production of documents if any. This request is opposed by the learned counsel for ex-management, the State Sank of Pakistan and the official liquidator. They maintain that either review should have been sought of the order rejecting the claims or the said order should have been impugned further in accordance with law and that the civil miscellaneous petitions in these circumstances are not maintainable. On merits it is contended that had the claims been genuine the petitioners would have submitted the documents in support of the claims. Agreeing with the aforesaid submissions I am not inclined to grant further time to the petitioners. The order rejecting the claims in fact should have been assailed in accordance with law. These petitions are disposed of accordingly.

Statement of expenses

The office report has been perused. The postal receipts and receipts acknowledging the payment of advertisement charges have been filed. The expenses incurred are reasonable. These are therefore, sanctioned.

As the payment of the verified claims has been made, the official liquidator has no objection to the grant of the prayer made in this petition. Order accordingly. The direction issued to the Director Emigration for placing the names of Sh. Abdul Wahid and Umar Farooq on the "Exit Control List" is hereby withdrawn. This order will be conveyed to the concerned quarter.

The official liquidator certifies that the two remaining claimants have also been paid the amount of their verified claims and as such the claimants whose claims were verified have been fully satisfied.

The claims have been paid by Sh. Abdul Wahid father of ex-directors and the other ex-director present in Court to the claimants directly and these payments have been verified by the official liquidator. The receipts obtained from the claimants have also been placed on the record. The position of the assets and the liquidation expenses in this case is as follows:-

It was reported in Report No.8 that a sum of Rs.10,100 (Rs. Ten thousand and one hundred only) was realized through the sale of the assets of the company and the expenses incurred by the official liquidator in all come to Rs.2876.70 (Two thousand eight hundred and seventy six and paisa seventy). Thus a sum of Rs.7223.30 (Rs. Seven thousand two hundred and twenty-three and paisa thirty) is available in the Liquidation Account. The statements of expenses and assets submitted by the official liquidator have been scrutinized by the office as well as by the learned counsel for the State Bank of Pakistan and the ex-management. They have no objection to the acceptance of these accounts. The assets realized and the expenditure incurred are nominal. The accounts submitted are, therefore, accepted. The official liquidator has been performing his duties since 7- 7-1980. A sum of Rs.7,223.30 (Rs. Seven thousand two hundred and twenty-three and paisas thirty) still is available in the liquidation account. The same will be received by the official liquidator as his remuneration. Thus nothing remains to be done. The company is, therefore, finally dissolved under section 350 of the Companies office will now take requisite steps pursuant to the Ordinance. The dissolution order.

H.B.T./S-34/L Company dissolved.

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