Find a Lawyer

ADAMJEE INUSRANCE COMPANY LIMITED versus MUSLIM COMMERCIAL BANK LIMITED

Section 178 Ordinance of Banking Companies (LVII of 1962), Section 23 Insurance Ordinance (XXIX of 2000), Section 67 Special Relief Act (Sections 42 and 54 of the 18771 Civil Procedure Code (VV 1908), O XXXIX, Rr 1 and 2 The Constitution of Pakistan (1973), Article 185 (3) of the Board of Directors of the Defendant Bank was not satisfied with the management of the plaintiff company having a 29% stake in the Defendant Grant Plaintiff Company. Plaintiff Bank was presenting the necessary statement and other reports. The Securities and Exchange Commission of Pakistan and the State Bank of Pakistan, as required by law, had already terminated the position of director of the plaintiff company He continued to occupy his office Defendant Bank participated in the meetings of the plaintiff company without protest. In the case filed by the plaintiff in the High Court by the plaintiff company judge, the defendants were banned from exercising their original civil jurisdiction. Provisional Decree Approved Defendant orders to exercise the jurisdiction of the Appeal for the plaintiff's company to exercise their right of election to the Board of Directors, facilitating the election of the plaintiff company directors I will appear as required under the provisions. Ordinance of the Companies, Section 178 of the 1984 Plaintiff's Company concluded that it had to terminate its business in foreign countries, the defendants had legitimate and legally acquired shares and avoided their voting and other rights. Could not be done As a shareholder and taking part in the affairs of the plaintiff company, the plaintiff bank had no interest in controlling the plaintiff company and had no such shares. pakistani advocates Jatoi lawyer