Sh. ALA UD DIN vs THE OFFICIAL LIQUIDATOR, THE CENTRAL EXCHANGE BANK — 1972 SCMR 246

Citation: 1972 SCMR 246

Court: Supreme Court of Pakistan

Year: 1971

Decision Date: 1971-12-31

Parties: Sh. ALA UD DIN vs THE OFFICIAL LIQUIDATOR, THE CENTRAL EXCHANGE BANK JUDGMENT

Headnotes

Case cited as 1972 SCMR 246

Judgment Text

Court Name: Supreme Court of Pakistan Judge(s): Waheeduddin Ahmad, Sajjad Ahmad Jan Title:Sh. ALA UD DIN vs THE OFFICIAL LIQUIDATOR, THE CENTRAL EXCHANGE BANK JUDGMENT Reported As: 1972 SCMR 246 Result: Leave refused Judgment JUDGMENT SAJJAD AHMAD, J.-In proceedings relating to the winding U, up of the Central Exchange Bank Limited, Lahore (in liquidation), Li the Official Liquidator, namely, the State Bank of Pakistan, SG has found the petitioner to be liable as a contributory of A, the Central Exchange Bank in the sum of Rs. 24,685-2-9 an account of unpaid call money, uncalled liability and interest on account of 1029 shares of the company of the nominal value of Rs. 50 each held by him. The petitioner applied to the High Court under section 184/38 of the Companies Act, denying his liability for the sum settled against him. He denied the valid transfer to him of 180 shares, and alleged certain payments having been made to the Bank, for which he had not been given credit. The Company Judge dismissed his application after record--ing evidence on all the issues that arose from the pleadings of the parties. All the objections raised by the petitioner against his liability related to questions of fact, which have been duly considered by the High Court on the evidence produced, and have been found against the petitioner. Before us, the learned counsel for the petitioner urged that the Official Liquidator had failed to prove the transfer of 180 shares, as no instrument of…

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