Incorporation of Private Limited Company

Any two or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Ordinance 1984 (“Company Law”) form a private limited company. The company needs a name for incorporation and first step towards it is to check availability of name from Read more about Incorporation of Private Limited Company[…]

Scope of Terms Turnover, Services Rendered and Supply of Goods in Tax Laws

Mr. Justice Mian Saqib Nisar in his judgment has decided the issue regarding scope of terms turnover, services rendered and supply of goods in tax laws in Civil Appeals No. 1084 of 2008 etc. 1. These appeals, by leave of the Court, and petitions involve similar question(s) of law, hence are being disposed of together. The Read more about Scope of Terms Turnover, Services Rendered and Supply of Goods in Tax Laws[…]

Competence of Financial Institution’s Signatories for Banking Recovery Suit

Mr. Justice Ibad-ur-Rehman Lodhi in his judgment has decided the issue regarding competence of financial institution’s signatories for banking recovery suit on the touchstone of Section 9 of Financial Institutions (Recovery of Finances) Ordinance 2001 in Regular First Appeal No. 201 of 2014. 1. The appellants have challenged the judgment and decree dated 12.02.2014, passed Read more about Competence of Financial Institution’s Signatories for Banking Recovery Suit[…]

Power of Official Liquidator for Claims against Third Parties

Mr. Justice Shahid Karim in his judgment has decided the issue regarding power of official liquidator for claims against third parties in Company Original No. 29 of 2010. 1. This is a petition under section 391 of the Companies Ordinance, 1984 (Ordinance, 1984), filed by the Official Liquidator of the company under liquidation ‘Mechanized Construction Read more about Power of Official Liquidator for Claims against Third Parties[…]

Winding Up of Company and Compulsory Buy-out of Shares

Mr. Justice Shahid Karim in his judgment has decided the issue regarding winding up of company and compulsory buy-out of shares in Company Original No. 35 of 2006. 1. This is a petition under section 305, 309 and 290 of the Companies Ordinance, 1984 (Ordinance, 1984). It has multitudinous reliefs which are couched in the Read more about Winding Up of Company and Compulsory Buy-out of Shares[…]

Further Tax on Sale of Sugar to Unregistered Persons

Mr. Justice Shahid Jamil Khan in his judgment has decided the issue regarding further tax on sale of sugar to unregistered persons in Sales Tax Reference No. 5 of 2005. 1. This judgment shall decide captioned, as well as, connected Tax References, which are arising out of consolidated judgment dated 27.06.2005 passed by erstwhile Customs, Read more about Further Tax on Sale of Sugar to Unregistered Persons[…]