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Citation: 1971 PLD 597
Court: Sindh High Court
Year: 1971
Decision Date: 1971-03-01
Parties: Mulla ABDULLABHAI AND 9 OTHERS vs SARIA ROPE MILLS LTD.
Case cited as PLD 1971 Karachi 597
Court Name: Sindh High Court Judge(s): Qadeer-ud-Din Ahmad Title: Mulla ABDULLABHAI AND 9 OTHERS vs SARIA ROPE MILLS LTD. Case No.: J. Miscellaneous Applications Nos, 10, 11, 12 and 13 of 1971 Date of Judgment:1971-03-01 Reported As: PLD 1971 Karachi 597 Result: Applications dismissed JUDGMENT JUDGMENT These four applications have been made under section 162 of the Companies Act, 1913. J. Misc. Application No, 10 has been filed under clause (vi) of section 162 of the Act and J. Misc. Nos, 11, 12 and 13 have been filed under clause (v) of section 162 of the Companies Act, 1913. The provisions are as follows :- "162.--A company may be wound up by the Court. (i)................................................. (ii)................................................. (iii)................................................ (iv)................................................ (v)If the company Is unable to pay its debts; (vi) if the Court is of opinion that it is just and equitable that the company should be wound up." 2. The facts which form the background are that Saria Rope Mills Ltd. is a private limited company and was registered on the 25th of December 1965 with an authorised capital of Rs, 20 lakhs. Its Memorandum and Articles of Association were subscribed by three persons, namely, Akbar Ali Ghulam Hussain Sarya, Ghulam Abbas Akbar All Sarya and Nooruddin Akbar Ali Sarya. The number of shares shown to be taken by them was 2500 in respect of Akber Ali Ghulam Hussain Sarya and…
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