Citation name: 2024 SCP 234– Bail After Arrest in 489-F
Two companies, M/s Tanveer Cotton Mills (Pvt.) Ltd. and M/s Tanveer Spinning & Weaving Mills (Pvt.) Ltd., filed petitions for leave to appeal against a Lahore High Court judgment ordering their winding up. The judgment, dated June 17, 2021, appointed official liquidators to manage the companies. The companies, represented by former chief executive Mian Azhar Saleem, challenged the judgment. However, the respondent banks argued that since the companies were under liquidation, they couldn’t file petitions through their former chief executive. The court appointed amici curiae for assistance and ultimately decided that the companies, through their board of directors, could appeal the winding-up order.