ASGHAR ABBAS GARDEZI versus SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Sections 22 (3) and 33 listed companies (Enforce sufficient oversight and monitoring of voting shares) Ordinance (III of 2002) Section 6 Constitution of Pakistan Article 199 Constitutional application Decision by the Commission on the rights of any person whose There should also be a request for alternative treatment of appeals under the Securities and Exchange Commission of Pakistan Act, 1997, a minor shareholder in the target company by the commission, a minor shareholder in the target company for taxation, a letter issued by the commission. Alternative remedies of appeal under the Securities and Exchange Commission of Pakistan Act, 1997 under this decree. It has been held that Section 6 of the listed companies (Acquisition and Overseas of Voting Shares) Ordinance 2002 (relating to the holding of the holdings) did not apply to the transaction of the shares in the target company whereby the shareholders of the respondents were more than Increased. Fifty percent of the applicants were of the view that the negative order passed by the Commission must be abolished, with the requirements of section 22 (3) of the Securities and Exchange Commission of Pakistan Act 1997 for the applicant under section 33 of the Appellate Bench. Failure to meet the legal requirement to provide reasons for the Commission's decision by reading an inappropriate letter / order to take advantage of alternative appeals before the court, disallowing the consent of the respondents including the Commission Letter / Order set aside and the matter sent to the Commission for decision by authorized ? On the objections raised by the applicant High Court, the authority authorized under the law has directed that the affected parties be subject to the legal principles contained in Section 22 (3) of the Securities.
Related judgments — Lahore High Court Lahore, 2013
