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1986 CLC 2826

STATE BANK OF PAKISTAN vs M.Z. KHALIL, OFFICIAL LIQUIDATOR

Citation1986 CLC 2826
CourtLahore High Court
Case No.C.O. No. 29 of 1980 Intra-Court Appeal No. 11 of 1985
Date1986-03-23
Judge(s)Muhammad Afzal Lone, Muhammad Zafarullah
ResultIntra-Court appeal dismissed

MUHAMMAD ZAFARULLAH, J.--Through this appeal the State Bank of Pakistan seeks to assail the orders passed by a learned Single Judge, on 22-4-1985 in Civil Original No. 29 of 1980 directing the appellants to pay Rs.5,000 as remuneration to the official Liquidator The learned counsel appearing on behalf of appellants admits that the Liquidator will be entitled to remuneration but he argues that this liability cannot be placed on the appellants.

2. Action was initiated at the instance of the appellants in respect of Messrs Chenab Contractors Ltd. The company in liquidation. A Liquidator was appointed in consequence of the proceedings.

The Liquidator after due inquiry found that the company had no assets or liability. The Liquidator naturally had to be compensated for the efforts made by him in inquiring into the affairs of the company. The mere fact that the rules do no indicate as to who has to pay the remuneration of the Liquidator cannot lead to the conclusion that no remuneration is to be paid to him. On the other hand, since the proceedings were initiated at the instance of the appellants, it is only fair and proper that the appellants be directed to pay the remuneration of the Liquidator. There is, therefore, no merit in the appeal. It is dismissed.

Cited by 1 case

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