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PART
II.
JURISDICTION OF COURTS
7. Jurisdiction
of the Courts:-
(1) The Court having
jurisdiction under this Ordinance shall be the High Court having jurisdiction
in the place at which the registered office of the company is situate:
Provided that the
Federal Government may, by notification in the official Gazette and
subject to such restrictions and conditions as it thinks fit, empowered
ny Civil Court to exercise all or any of the jurisdictions by this
Ordinance conferred upon the Court, and in that case such Court shall,
as regards the jurisdiction so conferred, be the Court in respect
of companies having their registered office within the territorial
jurisdiction of such Court.
(2) For the purposes
of jurisdiction to wind up companies, the expression "registered
office" means the place which has longest been the registered
office of the company during the six months immediately preceding
the presentation of the petition for winding up.
(3) Nothing in this
section shall invalidate a proceeding by reason of its being taken
in a Court other than the High Court or a Court empowered under sub-section
(1).
8. Constitution
of Company Benches:-
There shall in each
High Court be one or more Benches, each to be known as the Company
Bench, to be constituted by the Chief Justice of the High Court to
exercise the jurisdiction vested in the High Court under section 7.
9. Procedure
of the Court:-
(1) Notwithstanding,
anything contained in any other law, all matters coming before the
Court under this Ordinance shall be disposed of, and the judgment
pronounced, as expeditiously as possible but not later than ninety
days from the date of presentation of the petition or application
to the Court and, except in extraordinary circumstances and on grounds
to be recorded, the Court shall hear the case from day to day.
Explanation.--In this
sub-section, "judgment" means a final judgment recorded
in writing.
(2) The hearing of
the matters referred to in sub-section (1) shall not be adjourned
except for sufficient cause to be recorded or for more than fourteen
days at any one time or for more than thirty days in all.
(3) In the exercise
of its jurisdiction as aforesaid, the Court shall, in all matters
before it, follow the summary procedure.
10. Appeals
against Court orders:-
(1) Notwithstanding
anything contained in any other law, an appeal against any order,
decision or judgment of the Court under this Ordinance shall in to
the Supreme Court where the company ordered to be wound up has a paid-up
share capital of not less than one million rupees; and, where the
company ordered to be wound up has a paid-up capital of less than
one million rupees, or has no share capital, such appeal shall lie
only if the Supreme Court grants leave to appeal.
(2) Save as provided
in sub-section (1), an appeal from any order made or decision given
by the Court shall lie in the same manner in which and subject to
the same conditions under which appeals lie from any order or decision
of the Court.
(3) An appeal preferred
under sub-section (2) shall be finally disposed of by the Court hearing
the appeal within ninety days of the submission of the appeal.
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