' Mr. Mirza Rafiq Beg has filed counter-affidavit of Mr. Naseemuddin Qamar in which he has denied various adverse allegations made against him by the F.I.A. The counter-affidavit is taken on record.
On 25-11-1990, Mr. Naseemuddin Qamar had appeared in person and had stated that he may be allowed to withdraw as the Provisional Liquidator. A request had also been made by Mr. Abdul Sattar Edhi, another Joint Provisional Liquidator for withdrawal. Request of Mr. Naseemuddin Qamar and Mr. Abdul Sattar Edhi, for withdrawal as Provisional Liquidator, is granted.
2. J.M. No,8 of 1990 has been filed by the petitioner for the liquidation of the respondent-Company, Patley International (Pvt.) Limited.
The Petitioner is one of the Directors of the respondent-Company and it is stated in the memo of the petition that respondent-Company had collected over 3/1-2 crores of rupees from their 606 partners/shareholders for expansion of business and due to certain actions taken by State Bank of Pakistan against the business of respondent-Company and registration of criminal cases against the Directors and their arrest, the respondent-Company was compelled to close down their business. It is stated in the petition that the respondent-Company is unable to pay its dues to the partners/shareholders/investors and since April 1988 it has closed down its business and the Government agencies (FIA) have taken over their properties and assets. It is also stated in the petition that Director-General FIA has seized various Bank Accounts of the respondent-Company.
In the circumstances it has been prayed that the respondent-Company be wound up.
3. Official Assignee, who is now the only Provisional Liquidator, has submitted that all the formalities have been complied with and notice has also been published in the newspaper. No objection has been received from any quarter against the petition.
4. As the company has ceased to function and it appears that the company will not be able to pay its debts, a case for winding-up of the company is made out. J.M. No, 8 of 1990 is accordingly allowed and respondent-Company, Patley International (Pvt.) Limited, is ordered to be wound-up.
' The Official Assignee is appointed as Official Liquidator of the respondent-Company.
Miscellaneous No, 1005/90. 675/90 and 1898/90 have become infructuous and stand disposed of as such.