Securities and Exchange Commission of Pakistan — Judgments of 2007
35 reported judgments of the Securities and Exchange Commission of Pakistan from 2007.
- GARDEZI AND COMPANY, CHARTERED ACCOUNTANTS: In the matter of v. GARDEZI AND COMPANY, CHARTERED ACCOUNTANTS: In the matter of 2007 CLD 57
The powers and duties of Auditors Articles 255, 260 and 476 impose penalties for non-compliance with the provisions of the law, the Company's annual accounts are audited for the relevant years and its…
- Messrs PHARMAGEN LIMITED: In the matter of v. Messrs PHARMAGEN LIMITED: In the matter of 2007 CLD 93
Failure to pay the Provident Fund Trust, Sections 227, 229 and 476, the payment of fines payable to the Provident Fund Trust by the Company was withheld and the companies did not pay the said funds un…
- SAFEWAY MUTUAL FUND LIMITED (SMFL): In the matter of v. SAFEWAY MUTUAL FUND LIMITED (SMFL): In the matter of 2007 CLD 103
RR 5 (2) (E), 7 (2) (G), 38, 49 (3) (4) and 63 Companies Ordinance (XLVI of 1984), Section 282b Excessive investment Application of the penal investment company under which it was registered. Non-Bank…
- MUHAMMAD ZUBAIR v. KARACHI STOCK EXCHANGE(G) LIMITED 2007 CLD 121
In its complaint filed with the Securities and Exchange Commission, the Appeal Bench of the Section 33 Commission, alleging that the account receivable from the stock exchange was false, because of it…
- In the matter of: ACQUISITIONS OF SHARES OF UNITED SUGAR MILLS LIMITED and 12 others v. In the matter of: ACQUISITIONS OF SHARES OF UNITED SUGAR MILLS LIMITED and 12 others 2007 CLD 277
Offer, acquisition of shares in violation of the provisions of section 2 (1) (a), 4, 25 and 26 of the law Enforcement of penalties under the provisions of section 4 of listed companies (substantial ac…
- Mian MUHAMMAD ILYAS MEHRAJ and others v. EXECUTIVE DIRECTOR, (COMPANY LAW DIVISION) 2007 CLD 297
The Sections 158, 170, 171 and 477 listed companies (substantial share of voting shares and takeaways) ordinance (CIII of 2002), fail to hold the Company's annual general meeting of the Section 21 Com…
- ACQUISITION OF SHARES OF MUBARAK TEXTILE MILLS LIMITED: In the matter of v. ACQUISITION OF SHARES OF MUBARAK TEXTILE MILLS LIMITED: In the matter of 2007 CLD 306
Sections 3 (e), 4, 5, 25 and 26 Increase shareholder acquisition Increase the acquisition price of the penalty receiver, which complies with the relevant provisions of the listed companies (substantia…
- TAHIR ABBAS v. AMZ SECURITIES (PVT.) LIMITED 2007 CLD 314
Section 33 of the Karachi Stock Exchange 2004 General Regulations, Applying Appeal to the Regulation 74 Appellate Maintenance Principle Judiciary, the appellant filed a complaint against the defendant…
- BESTWAY CEMENT LIMITED: In the matter of v. BESTWAY CEMENT LIMITED: In the matter of 2007 CLD 370
Section 208 The approval of the relevant companies and shareholders in connection with the loans / advances already made, in addition to the approval of the relevant fine company, without the complian…
- HONDA ATLAS CARS (PAKISTAN) LIMITED: In the matter of v. HONDA ATLAS CARS (PAKISTAN) LIMITED: In the matter of 2007 CLD 557
Unauthorized investment in the actions associated with the section 208 company, in violation of the provisions of section 208 of the Companies Ordinance, 1984, unauthorized investment in related actio…
- ARSHAD WADUD KHAN v. EXECUTIVE DIRECTOR (NBFC DEPARTMENT) SEC 2007 CLD 566
Sections 158, 245 and 476 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 33 Quarterly Accounts Failure to Prepare and Present, and Directing Company Directors to Fine…
- USMAN TEXTILE MILLS LIMITED: In the matter of v. USMAN TEXTILE MILLS LIMITED: In the matter of 2007 CLD 574
Sections 177, 186 and 476 Failing to elect the directors of the company The last selection of directors of the company was held on March 26, 2002 to select directors for a 3-year term, which ended Mar…
- UMSAN TEXTILE MILLS LIMITED: In the matter of v. UMSAN TEXTILE MILLS LIMITED: In the matter of 2007 CLD 599
Failure to file the Sections 245 and 476 quarterly account, within a fixed period, showcases notices were presented to all directors of the Company, including the Company's Chief Executive, in respons…
- NOOR SILK MILLS LIMITED: In the matter of v. NOOR SILK MILLS LIMITED: In the matter of 2007 CLD 605
Failure to hold an annual general meeting under Sections 158 (1) of the Ordinance of Companies 158 and 476 Companies, which was required to hold its annual general meeting for the relevant year under …
- Mian MUHAMMAD ILYAS MEHRAJ v. COMMISSIONER (SECURITIES MARKET DIVISION) 2007 CLD 613
Sections 4, 21 and 24 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), obtaining company shares in violation of section 33 companies (substantial acquisition, voting shares and…
- FRONTIER CERAMICS LIMITED: In the matter of v. FRONTIER CERAMICS LIMITED: In the matter of 2007 CLD 621
Failure to prepare and dispatch sections 245 and 476 quarterly accounts, the implementation of a fine company which is required to prepare and submit to the members under the provisions of section 245…
- HAKKIM TEXTILE MILLS LIMITED: In the matter of v. HAKKIM TEXTILE MILLS LIMITED: In the matter of 2007 CLD 630
Failure to prepare and transmit quarterly accounts to Sections 245 and 476, the implementation of a fine company that has to prepare and transfer its members under Section 245 of the Companies Ordinan…
- LATIF JUTE MILLS LTD. v. EXECUTIVE DIRECTOR (COMPANY LAW), SEC 2007 CLD 882
Section 265 (b) Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 20 (4) Appointment of Inspector to Investigate Company Matters, Sale of Company Assets by Administration for S…
- ASIAN SECURITIES (PVT.) LIMITED: In the matter of v. ASIAN SECURITIES (PVT.) LIMITED: In the matter of 2007 CLD 893
Regular 8 and 12 Regulations of Karachi Exchange (Guarantee) Limited, conducting future contracts, revealed a penalty examination on the information provided by the company violating Regulation 3 (b) …
- TAURUS SECURITIES LIMITED: In the matter of v. TAURUS SECURITIES LIMITED: In the matter of 2007 CLD 903
Information provided by the Company about controlling the rules and regulations of Section 22 (1) Karachi Exchange (Guarantee) Limited, Regulation 3 (B) Brokers and Agents Regulation Rules, 2001, R8 w…
- DADABHOY CONSTRUCTION TECHNOLOGY LIMITED: In the matter of v. DADABHOY CONSTRUCTION TECHNOLOGY LIMITED: In the matter of 2007 CLD 1038
Sections 196 and 476 Purpose and purpose of Sections 196 and 476, Companies Ordinance, 1984 Applicable sales cell plant and machinery without the prior approval of the shareholders of this company wer…
- Messrs CRESCENT STEEL AND ALLIED PRODUCT LIMITED: In the matter of v. Messrs CRESCENT STEEL AND ALLIED PRODUCT LIMITED: In the matter of 2007 CLD 1060
Sections 208 and 476 The Company's investment in the company affiliated to it and the commitments without the approval of its shareholders, the investment in the companies related to it, approved by t…
- KASHMIR POLYTEX LIMITED: In the matter of v. KASHMIR POLYTEX LIMITED: In the matter of 2007 CLD 1080
Failure to file a quarterly account to the Section 245 Company, the implementation of the penal company which was required to prepare and dispatch the members under the provisions of section 245 of th…
- QUALITY STEEL WORKS LIMITED: In the matter of v. QUALITY STEEL WORKS LIMITED: In the matter of 2007 CLD 1088
Failure to prepare and file a quarterly account by the Section 245 Company The provisions of section 245 of the Companies Ordinance 1984 required the preparation and transfer of company members for th…
- QUALITY STEEL WORKS LIMITED: In the matter of v. QUALITY STEEL WORKS LIMITED: In the matter of 2007 CLD 1116
Failure to hold annual general meetings by the Sections 158 and 476 Company, the implementation of the penalty company fails to hold an annual general meeting within the stipulated period, notices hav…
- KASHMIR POLYTEX LIMITED: In the matter of v. KASHMIR POLYTEX LIMITED: In the matter of 2007 CLD 1125
Under the terms of section 158 of section 158 and the ordinance of 476 companies, section 158 of section 158 of 1984, its annual general meeting was mandatory for the conclusion of the year related to…
- Messrs HAMID TEXTILE MILLS LIMITED: In the matter of v. Messrs HAMID TEXTILE MILLS LIMITED: In the matter of 2007 CLD 1251
Without the consent of the General Meeting of Sections 196 and 476 of the Company's share of the assets of the company, the chief executive and director plant the sale proceedings to sell a significan…
- GANGAT & CO., CHARTERED ACCOUNTANTS: In the matter of v. GANGAT & CO., CHARTERED ACCOUNTANTS: In the matter of 2007 CLD 1256
Generating sections 255, 260 and 476 audit reports and making audit reports were otherwise in accordance with the provisions of section 255 of the Companies Ordinance, the implementation of the penalt…
- Messrs ZAHUR COTTON MILLS LIMITED: In the matter of v. Messrs ZAHUR COTTON MILLS LIMITED: In the matter of 2007 CLD 1271
Section 160 246 and 476 Annual General Meeting Held Annual General Meeting by Members of the Company Holding Penalties for Not Submitting Notice of Meeting to Commission and Company Members, But Neith…
- MUBARIK DAIRIES LIMITED: In the matter of v. MUBARIK DAIRIES LIMITED: In the matter of 2007 CLD 1277
Failure to prepare and dispatch of company ordinance, section 245 of 1984 under the provisions of section 245 of the Ordinance of section 245 companies, required to prepare and move the members of the…
- Shaikh ABDUL WAHID v. COMMISSIONER (SMD & CLD) 2007 CLD 1281
Sections 20 (4) (g), 20 (6) (b) (g) and 33 listed companies (substantial acquisition voting shares and takeovers) Ordinance (CM of 2002), sections 3, 4, 5, 6 and On the appeal of the 25 violations tak…
- SHAKARGANJ MILLS LIMITED: In the matter of v. SHAKARGANJ MILLS LIMITED: In the matter of 2007 CLD 1291
Implementing a penal company to invest in a company affiliated without the prior approval of the shareholders of Sections 208 and 476. In advance. The Company was required to approve such advance / in…
- In he matter of: Messrs KOHINOOR POWER COMPANY LIMITED v. In he matter of: Messrs KOHINOOR POWER COMPANY LIMITED 2007 CLD 1491
Sections 208, 476 and 495 Unauthorized Investing in Related Company Implementation of the Chief Executive and Directors of the Company in Failure to comply with the Commission's directive, in relation…
- In the matter of: Messrs NAMDAR & CO., CHARTERED ACCOUNTANTS v. In the matter of: Messrs NAMDAR & CO., CHARTERED ACCOUNTANTS 2007 CLD 1498
Failure to submit the Audit Report signed under Sections 253 (3), 255 (3) (6), 476 and 498 revealed that the companies submitted annual accounts in compliance with Section 233 of the Ordinance 1984. A…
- In the matter of: Messrs SOUTHERN NETWORKS LIMITED v. In the matter of: Messrs SOUTHERN NETWORKS LIMITED 2007 CLD 1504
Sections 226 and 229 Securities misappropriation and misuse and penalties for deposits The provisions of section 226 of the Companies Ordinance, 1984, were intended to protect the money deposited with…
Other years — Securities and Exchange Commission of Pakistan
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