TaxTMI 
TaxTMI 
TaxTMI 
1996 (1) TMI 330
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....or of the said company. The said company (in liquidation) gave a loan to respondent No. 1 as hirer and respondent No. 2 as guarantor in respect of purchase of a vehicle. The respondents had undertaken to repay the loan amount in 24 instalments. Some instalments were paid and, thereafter, the respondents stopped paying the instalments. The demand notice was sent to the respondents ; even then, they did not pay the remaining amount. Therefore, the official liquidator had to approach this court for passing a decree or payment order against the respondent in the sum of Rs. 52,263.65. This court, vide its order dated May 19, 1994, passed a payment order against respondent No. 1 in the sum of Rs. 37,093.65 with interest at the rate of 12 per cen....
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....e same manner as if it has been made by itself. (4) Where any order made by the Company Law Board is required to be enforced by a court, a certified copy of the order shall be produced to the proper officer of the court required to enforce the order and the provisions of sub-sections (2) and (3) shall, as far as may be, apply to every such order in the same manner and to the same extent as they apply to an order made by a court." A similar controversy arose before the Division Bench of the Sind High Court and their Lordships had resolved the controversy by ascertaining the true intention of the Legislature in the case of Official Liquidators of Golden Provident Funds Society Ltd. v. Narain Deoomal [1943] 13 Comp Cas 83. The facts of the s....
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....fficial liquidator who produced a certified copy of this order to the Karachi court to the proper officer of the Hyderabad court as contemplated under section 201 of the Companies Act. The court also observed that (page 85) : "We do not think then that any question of transfer of the order from one court to another, as if it were a decree to be transferred under section 39 and Order 21 of the Civil Procedure Code, arises. Had it merely been provided that an order of the court was to be enforceable as a decree, the appropriate provisions of the Civil Procedure Code would have applied, but section 201 of the Companies Act provides its own special procedure in this matter and must be followed. We think, therefore, the order of the learned jud....