| Case ID |
268592b7-7971-42c1-ba31-88cc30e018ca |
| Body |
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| Case Number |
J.M.No.27 of 2004 |
| Decision Date |
Mar 06, 2007 |
| Hearing Date |
|
| Decision |
The case involved a petition for winding up a company under the Companies Ordinance, 1984. The parties reached a compromise where the respondent paid the petitioner an agreed sum towards the value of her shares in the company. Upon payment, the petitioner relinquished all claims over the shares and assets of the company, leading to the respondent becoming the sole owner of the shares. The application for compromise was granted, and the petition was disposed of in terms of the settlement reached between the parties. |
| Summary |
This case highlights the resolution of a corporate dispute through amicable compromise under the Companies Ordinance, 1984. The petitioner, Nazmeen Shafi, and the respondents, including Sindh Travel Services (PVT.) LTD., reached an agreement where the petitioner was compensated for her shares in the company. As a result of the payment, the petitioner waived all claims, solidifying the respondent's ownership. This case is significant for understanding corporate law and the legal processes involved in the dissolution of claims through mutual consent, emphasizing the importance of legal representation in such matters. |
| Court |
Sindh High Court
|
| Entities Involved |
SINDH TRAVEL SERVICES (PVT.) LTD.,
MANAGING DIRECTOR
|
| Judges |
MAQBOOL BAQAR, JUSTICE
|
| Lawyers |
Munawar Hussain,
Ziaul Haq Makhdoom
|
| Petitioners |
NAZMEEN SHAFI
|
| Respondents |
5 OTHERS,
MANAGING DIRECTOR,
SINDH TRAVEL SERVICES (PVT.) LTD.
|
| Citations |
2008 SLD 392,
2008 CLD 572
|
| Other Citations |
Not available
|
| Laws Involved |
Companies Ordinance, 1984
|
| Sections |
309
|