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IN THE MATTER OF: TRANSMISSION ENGINEERING INDUSTRIES LIMITED versus IN THE MATTER OF: TRANSMISSION ENGINEERING INDUSTRIES LIMITED

Implementation of the default penalty on the delivery of Sections 245 and 476 quarterly accounts, which are required to prepare and transfer the members in accordance with the provisions of Section 245, Companies Ordinance, 1984, as well as the Registrar and Commission You have to enter your quarterly account into the default file. Over time, the explanation presented by the Chief Executive of the Commission as well as the Director's Representative, was submitted to the Commission with a delay of 3 months and 10 days, effective protection of investors / shareholders was not found, The Companies Ordinance, 1984 was the primary purpose and it was the investors / shareholders who provided the badges for capital formation. If the interests of the investors were protected, they would maximize savings and investment, they were protected the interests of the investors by timely, appropriate and meaningful information delivery Annual and interim accounts Provided information about the Company's affairs, but the Director Company did not observe the required requirements of the law and failed to protect the interests of the shareholders, even tracking the Company's record in connection with the quarterly account submission. Was not satisfactory because in the past quarterly account submission The default was. He always took a gentle approach and waived the default defects, which showed that the directors had no respect for the law, instead of imposing a maximum penalty of Rs one lakh on each director and a permanent default. One thousand rupees was fined a day, each was charged Rs 5,000 registration advocate from Mangla lawyer