Find a Lawyer

DAWOOD FIBRE MILLS LIMITED versus COMMISSIONER (COMPANY LAW DIVISION), SEC

Section 160 (1) (b) and 265 Securities and Exchange Commission of Pakistan Act (XLII of 1997), Section 33 The company's investigation of the affairs of the inspector appeal was filed against the order of the Commissioner, under which the matter was investigated. Inspectors were appointed for. The appellant company was facing financial problems, including liquidity crisis and so on. The Commissioner appointed inspectors under section 265 (b) of the Companies Ordinance 1984, after issuing a show cause notice under the circumstances that the appellant company's affairs were not operating according to proper business and wisdom. Trade practices; that matters were being dealt with cruelly by its members. That matters are being worked out with the intention of discouraging members from earning a reasonable return on their investment, and it has been stated that this may cause the project to close eventually. The beneficiaries were not paid any return through profit and their accumulated losses increased and their negative equity also increased. The reduction was due to the sale of the assets of the company and not to any business returns. Due to which the company was no longer in business and had discontinued its production and there was no immediate possibility Was. To change this situation if it is said that the situation is allowed to continue, there is every possibility of closure or sophistication of the company. Regulation and control as well as protection had a dual role. Investors and commissions cannot be expected to be inactive. best advocate from Kohat lawyer