| Case ID |
1a92da6f-e655-4b90-b1f1-641a98a1e2f1 |
| Body |
View case body. Login to View |
| Case Number |
Application No. 4 of 1987 |
| Decision Date |
Mar 09, 1992 |
| Hearing Date |
Mar 09, 1992 |
| Decision |
The petition for rectification of the company register was granted, as the applicant provided prima facie satisfactory evidence supporting their claim of having acquired the entire interest in the company. The respondents failed to produce necessary documents in their defense, leading to the conclusion that the petitioner's claims were valid. The court directed the rectification of the register to reflect the rightful management and ownership of the company as per the evidence presented. |
| Summary |
This case revolves around the rectification of the company register for Faruqi House Building Corporation Ltd. under the Companies Ordinance of 1984. The petitioner, Muhammad Salim Khan, argued that he and his associates had acquired the entire interest in the company, which was previously on the brink of insolvency. The court found that the respondents, who were supposed to counter these claims, did not appear or provide any evidence to support their position. The ruling emphasized the importance of maintaining accurate company records and the legal implications of ownership transfers. The decision underscored the necessity for parties involved in corporate governance to adhere to legal protocols, especially when disputes arise regarding ownership and management. The successful outcome for the petitioner highlights the judicial system's role in correcting corporate records to reflect true ownership, ensuring transparency and legality in company operations. |
| Court |
Sindh High Court
|
| Entities Involved |
Faruqi House Building Corporation Ltd.
|
| Judges |
HAZIQUL KHAIRI, JUSTICE
|
| Lawyers |
I.H. Zaidi,
Muhammad Majeed Jilani
|
| Petitioners |
MUHAMMAD SALIM KHAN
|
| Respondents |
Muhammad Majeed Jilani
|
| Citations |
1992 SLD 1089,
1992 CLC 2273
|
| Other Citations |
Not available
|
| Laws Involved |
Companies Ordinance (XLVII of 1984)
|
| Sections |
152
|