JADEED FEEDS INDUSTRIES (PRIVATE) LIMITED vs BOARD OF REVENUE, PUNJAB Ss

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JADEED FEEDS INDUSTRIES (PRIVATE) LIMITED VS BOARD OF REVENUE, PUNJAB Ss.4, 5, 282(5) & Preamble---Stamp Act (II of 1899), S.27-A & Schedule I---Constitution of Pakistan, Art. 143---Intra Court Appeal---Inconsistency in Federal and Provincial laws---Merger of companies---Transfer of assets---Stamp duty, charging of---Appellant / company was aggrieved of charging of stamp duty on transfer of assets as a result of merger of two companies under the order of High Court---Validity---Objective to enact Companies Act, 2017 was to protect interests of shareholders, creditors, stakeholders and general public by inculcating principles of good governance and safeguarding minority interests in corporate entities and providing alternate mechanism for expeditious resolution of corporate disputes as well as matters connected thereto, as was mentioned in its preamble, read with the provisions of Ss. 4 & 5 of Companies Act, 2017---Hinderance by way of imposing stamp duty and other taxes would take away companies law jurisdiction from High Court to other Provinces---Conflict of law is created only when the two, i.e. the Federation and the Province, simultaneously have authority and in such circumstances, Federal Law would prevail---Provisions of Ss. 4 & 282(5) of Companies Act, 2017 were part of Federal Law, therefore, it prevailed over the provision of Provincial Law, i.e. S. 27-A of Stamp Act, 1899---High Court directed Chief Secretary of Province of the Punjab to file a detailed report on or before the next date, explaining progress made in the meeting to resolve the matter---High Court further directed that if matter would not be resolved despite efforts of the Chief Secretary of Province of the Punjab, then the same would be decided on its own merits, after discussing legal anthropology of relevant provisions of law, i.e. the Companies Act, 2017 and Stamp Act, 1899---High Court granted interim injunction in favour of appellant / company, since vires of the judgment passed by Judge in Chambers of High Court, in case titled Jadeed Feeds Industries (Pvt.) Limited v. Board of Revenue, Punjab through Chief Inspector of Stamps and others, reported as 2024 CLD 1570 was under challenge and balance of convenience for grant of interim relief also tilted in favour of appellant / company---Interim injunction was allowed accordingly.

JADEED FEEDS INDUSTRIES (PRIVATE) LIMITED vs BOARD OF REVENUE, PUNJAB Ss — 2025 CLD 587 LAHORE-HIGH-COURT-LAHORE

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