1. ' Learned counsel for the petitioners in support of appointment of a provisional Manager relies upon re: PICIC v. National Silk and Rayon Mills Limited (PLD 1976 Lah. 1538), re: Maqbool Elahi v. Rasul & Co.
2. Limited (PLD 1970 Lah.539), re: United Bank Limited v. Pak Wheat Products Ltd. (PLD 1970 Lah. 235), re: National Bank of Pak: an v. Punjab National Silk Mills Ltd. (PLD 1969 Lahore 194) and re: Muhammad Ismail Ali Charan v. Pak Por C amic Limited (PLD 1973 Kar. 491).
2. The submission made in that regard viz. Inability of the respondent to meet its current demands, being commercially and technically insolvent, that substratum of the company has gone and that it is not meeting its current demands are .Relevant to the final disposal of the winding up. Therefore, it does not appear appropriate to make a direction at this stage merely for the reason that a company is going in loss. All these aspects will be considered at the time of final arguments.
3. Therefore, for the moment this application cannot be granted. Dismissed.
4. Main Case ' To come up for final arguments on 19-10-2004