Find a Lawyer

IN THE MATTER OF: MESSRS S.G. POWER LIMITED versus IN THE MATTER OF: MESSRS S.G. POWER LIMITED

Sections 208 and 476 make unauthorized investment in the companies affiliated with it by the implementation of Germany's chief executive and directors by providing open-ended credit to the affiliated company and not accruing long residual interest Failed to exercise due diligence and breached its obligation. Except for the holders' acquisition of the affiliated company, which is in violation of the provisions of section 208 of the Companies Ordinance, the credit facilities extended to the respective company cannot be termed as ordinary commercial credit, but may be referred to in section 208 of the Companies. Will fall within the scope of The ordinance, 1984, was specifically extended without the prior approval of the shareholders by special resolution in contravention of the terms of section 208 of the Ordinance of Companies, and without receiving any refund on each credit, the chief executive and The directors were set up to violate the provisions of the Companies Section 208 Ordinance, and due and and did not take proper care, stating that the relevant concerns presented to the Directors of the Company, Had accepted the default and was able to recover the outstanding interest as well as the balance of the commercial loan from the associated company. Were in the process of refining the default. The credit extension period should be reduced to 120 days so that it can be brought closer to three years. The sectoral average is being treated as a period of general trade credit. Company representatives also assured that the Company will ensure strict implementation of the Companies Ordinance, 1984, in the forthcoming commission. In the circumstances, the Companies Ordinance of Sec advocate from Musakhel lawyer