NATIONAL DEVELOPMENT FINANCE CORPORATION versus RAWAL PAPERS (PVT.) LTD.
Securities lenders of the Insurance (Karachi Division and DACA) Act 1909, Section 48 and Sec 9, paragraph 15, handed over their security to the Government Assistant in order to redeem the security where the secured lenders did not understand or surrender. Security was valued, government assistants would have the option to redeem or require security where a secured lender did not realize, or did not value, its security. Shall not be entitled to share any of the assets.
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