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NATIONAL DEVELOPMENT FINANCE CORPORATION versus FAZAL SUGAR MILLS LTD.

The Companies Ordinance 1984 Sections 305 and 306 were sought to be consolidated on the basis that the company was unable to repay the debt owed to the lenders. What has created a good controversy with Which case has been filed by the company where the company had a controversial dispute with its creditors regarding its obligation to lend, in which case the parties must refer to the matter, but it appears To the extent that the company had a clear dispute with it, it would be up to the company about its obligation to pay the lenders. Such an obligation cannot be relieved merely by the fact that the company filed a lawsuit against the lenders claiming to be indebted to the lenders, unless no evidence was presented in this case and the company's claim was established. Not done It cannot be said that the company had a good claim against the lenders, the company may eventually be able to establish its claim against the lenders, but if there is no proof, it will not be said that The company had a particular dispute against the lenders, due to the company's failure to present the project, the government canceled its approval, thus the project was terminated, the company failed to establish it as well. Whether or not it is commercially correct. Able to pay off your debt or run a plan. Under the circumstances, the lenders were justified in arresting that the company's assets could be lost or disposed of illegally and the creditors' rights were defeated. immigration advocates from Shahkot lawyer