Warid Telecom Winding Up Petition Case وارد ٹیلی کام کو بند کرنے کے لئے قانونی درخواست کا کیس

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(PR) Huawei Technologies Co. Ltd., one of the global leading networking and telecommunications companies and its subsidiaries Messrs Huawei International Pte Limited and Huawei Technologies Pakistan Pvt Limited on 23 August 2010 instituted three petitions in the Lahore High Court, Rawalpindi Bench, for the winding up of Warid Telecom (Pvt.) Ltd, one of the five cellular operators in Pakistan. The petitions have been filed only after repeated assurances by Warid that the outstanding and admitted liabilities would be repaid. 

As interim measures the Huawei companies sought stay orders against Warid from disposing off its assets and the transfer of shares. The court was pleased to grant such orders. It has also directed Warid to submit its monthly statement of income and expenses. Huawei is seeking the appointment of a provisional manager while the petitions are pending. 

It has been pleaded that Warid, admittedly, owes the three Huawei companies a sum far exceeding US $ 100,000,000 (US Dollars One Hundred Million) equivalent to a sum exceeding Pak Rupees 10,000,000,000.00(Pak Rupees Ten Billion). 

The Petitions will be heard by the Court in Pakistan on the 26th October 2010. 

Following the institution of these petitions and the grant of the stay orders by the High Court, Warid and Huawei have attempted to settle the issue. However, no meaningful offer was made by Warid, and no payment has been received by Huawei. Huawei is therefore vigorously pursuing the petitions. 

Huawei takes contractual matters very seriously and is committed to ensuring that its innovative products and solutions continue to build next generation networks in the Pakistan market and all the regions it operates in. Huawei is committed to being the preferred partner of choice in technology innovation for its customers across the globe. 

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About Huawei Technologies Co., Ltd. 

Huawei is a leader in providing next generation telecommunications networks, and now serves 36 of the world's top 50 operators, along with over one billion users worldwide. The company is committed to providing innovative and customized products, services and solutions to create long-term value and growth potential for its customers.