SHAHENSHAH SHAHALAM CO-OPERATIVE HOUSE BUILDING SOCIETY LTD, — 1966 PLD 738

Citation: 1966 PLD 738

Court: Sindh High Court

Year: 1971

Decision Date: 1971-12-31

Petitioner: SHAHENSHAH SHAHALAM CO-OPERATIVE HOUSE BUILDING SOCIETY LTD, JUDGMENT

Headnotes

Case cited as PLD 1966 SC 738

Judgment Text

Court Name: Sindh High Court Judge(s): Mir Khuda Bakhsh Marri, Ghulam Rasool K. Shaikh Title:SHAHENSHAH SHAHALAM CO-OPERATIVE HOUSE BUILDING SOCIETY LTD, JUDGMENT Reported As: PLD 1972 Karachi 178 Result: Appeals dismissed Judgment JUDGMENT GHULAM RASOOL K. SHAIKH, J.-This is an appeal under clause 10 of the Letters Patent against the judgment of the learned Single Judge sitting on the original side whereby 5 suits were dismissed with costs. The appellants are five Co-operative Housing Societies, namely, Shahenshah Aurangzeb, Shahenshah Farukhsyr, Shehenshah Humayun, Shahenshah Shah Alam and Shehenshah Bahadur Shah as well as Hussain D'Silva Enterprise Ltd. Originally a company was formed by Messrs A. R. Hussain and J. L. D'Silva and a scheme was prepared for the construction of flats. In order to raise the funds, Mr. Hafeez Ahmad. The then Managing Director of the House Building Finance Corporation (respondent) was contacted and he advised them to form Co-operative Housing Societies as it appeared that under the rules governing the grant of loans a limited company would not be eligible to obtain any credit from the Corporation. Consequently Hussain D'Silva Enterprise Ltd. Promoted 9 Co-operative Societies, out of them 5 are the present appellants. The remaining four Co-operative Societies were named after emperors Babar, Akbar, Jehangir and Shah Jahan. However, each of the 9 Co-operative Societies had 10 common members only, namely A. R. Hussain, J. L. D'Silva and their…

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