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ABDUL MAJEED, CHIEF EXECUTIVE versus COMMISSIONER (EMD) SEC

Sections 158 and 246 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), the application of the Section 33 penalty, the appellant company failed to hold an annual general meeting even for an extended period, stating that the meeting was delayed by five months and twenty-one days. A company meeting was also held. Failure to prepare and move its quarterly accounts for the period ended 31, 2002 2002, said Germanman, after giving the company and the chief executives and directors the opportunity to hear requests, to the executives and directors of the companies. Errors that he has handled. The management of the company in June, 2001, when the Companies Ordinance, under section 158 of 1984, was found to be technical default on not having annual general meetings for the relevant year, said the weight was lifted by default of the old management of the company. Was new and not new. And in such cases it would be unjust to punish the new administration imposed by the Commissioner under S. Act 158 of the Companies Ordinance 1984 was set aside, except in the case of quarterly accounts ending 313 2002. To do that was the default under Section 246, the new administration could not get so many requests because it had enough time to prepare and submit. Regarding the accounts, the appellants contend that the default was not intentional or deliberate, irrespective. The default record of the company was not convinced to assure the applicant in the future, in view of the softness, fine if imposed, the Companies Ordinance has been enforced under section 246 of 1984, which top advocates from Dera Ismail Khan lawyer