FIRST DAWOOD INVESTMENT BANK LTD., KARACHI vs BANK OF PUNJAB through President, Lahore Ss — 2022 PLD 769 SUPREME-COURT

Case information

Citation: 2022 PLD 769 SUPREME-COURT
Court: Supreme Court of Pakistan
Year: 2022
Reporter: PLD
Parties: FIRST DAWOOD INVESTMENT BANK LTD., KARACHI vs BANK OF PUNJAB through President, Lahore Ss
Subject matter: Criminal

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

FIRST DAWOOD INVESTMENT BANK LTD., KARACHI VS BANK OF PUNJAB through President, Lahore Ss. 305(e) & 306(1)(a)---Winding up of company---Default in payment of debt---Presumption after serving of notice---Legislature has, vested the creditor with an advantage, that when the creditor has served upon a company, a statutory notice under section 306(1)(a) to pay its debt, and the company has neglected to pay the debt, within the stipulated thirty days, a presumption by a legal fiction is created in favour of the creditor, that the company is unable to pay its debt due to the creditor.

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