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PICIC versus INDUS STEEL PIPE LTD.


Ordinance of Companies 1984 Section 306 Company unable to pay its debt Company failed to repay or protect its debt within 30 days of receipt of legal notice, in terms of supply of Companies Ordinance 306 Will come , 1984 and should be considered unable to pay its debt even though such a company cannot be a bankruptcy company. A government assistant was instructed to become the company's official liquidator

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