2008 PLP 572 (CLD)
NAZMEEN SHAFI — Petitioner Versus SINDH TRAVEL SERVICES (PVT.) LTD. through Managing Director and 5 others — Respondents
| Citation | 2008 PLP 572 (CLD) |
| Forum / Court | Karachi |
| Bench Members | N/A |
| Parties | NAZMEEN SHAFI — Petitioner Versus SINDH TRAVEL SERVICES (PVT.) LTD. through Managing Director and 5 others — Respondents |
| Primary Law | Companies Ordinance (XLVII of 1984) |
Q1: What are the key laws and sections cited in 2008 PLP 572 (CLD)?
This judgment primarily cites: Companies Ordinance (XLVII of 1984) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2008 PLP 572 (CLD)?
The case was heard and decided by the Karachi bench comprising: N/A.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2008 PLP 572 (CLD) (NAZMEEN SHAFI — Petitioner Versus SINDH TRAVEL SERVICES (PVT.) LTD. through Managing Director and 5 others — Respondents). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Munawar Hussain for Petitioner.
- Ziaul Haq Makhdoom for Respondent No.2.
Headnotes / Summary
S.309
Petition for winding up of company
Compromise between the parties
Parties in their application filed under O.XXIII, R.3 C.P.C. had submitted that parties had resolved their dispute amicably by arriving at a compromise, in terms :.whereof respondent had paid to petitioner amount towards the value of her holding in the company; and upon the said payment, the respondent had become the sole and absolute owner of the shares held by the petitioner in the company-Petitioner having been paid the amount of her claim, had absolutely ceased to have any claim over/or in respect of the shares and assets of the company or against respondent or any of the Directors of the company
Application for compromise was granted in circumstances.
Judgment & Decree
MAQBOOL BAQAR, J.
Through this application, under Order XXIII,, Rule 3, C.P.C., duly signed by Nazmeen Shaft, the petitioner and her counsel Mr. Munawar Hussain as well as by respondent No.2. Mian Naeem Afzal for self and on behalf of respondent No.1, company, and the respondents' counsel. It is submitted that the parties have resolved their dispute amicably, in terms whereof, the respondent No.2 has paid to the petitioner a sum of Rs.2,67,67,480, vide pay orders Nos.02717873, 02535313, 3036347 and 2769535. the first one for Rs.7,483,740, drawn on Askari Commercial Bank, Jinnah Avenue Branch, Islamabad, the second for Rs.5,500,000 drawn on the same Branch of the Bank, the third for Rs.13,383, 740, drawn on Askari Commercial Bank, Preedy Street Branch, Karachi and the fourth for Rs.4,00,000 drawn on Askari Commercial Bank. The above amount has been paid to the petitioner towards the value of her holding in the company and upon the above payment, the respondent No.2 has become the sole and absolute owner of the shares held by the petitioner in the respondent No.1 company. The petitioner having been paid the amount of her claim has now absolutely no claim over/or in respect of the shares and assets of the respondent No.1 company or against the respondent No.2 or any of the Directors of the respondent No.1 company. The application is granted. The petition stands disposed of in the foregoing terms. H.B.T./N-8/K????????????????????????????????????????????????????????????????????????????????????? Order accordingly.