IN THE MATTER OF: MESSRS SUNSHINE COTTON MILLS LIMITED versus IN THE MATTER OF: MESSRS SUNSHINE COTTON MILLS LIMITED
Failure to prepare and transfer accounts for Sections 245 and 476 quarterly accounts was required by the provisions of Section 245 of the Companies Ordinance 1984 for the execution of the fine company and delivery to the members as well as its quarterly The accounts were to be filed with the Registrar and the Commission. Failure to comply with mandatory requirements within the stipulated time, in response to the showcase notice, the Director of the Company did not justify that if the Company's directors claim that the Company was vacant, the Company's prior There was no good reason for justifying the directors. When the company was not working, the directors had to prepare and transfer the quarterly accounts to shareholders to ensure they complied with all legal requirements, but they could refrain from saying that by default. Deliberately and deliberately failed to track company records with Razor The submission of quarterly / half yearly accounts was also unsatisfactory as it had failed to submit accounts within a fixed period since 2001, The first directors were fined for, the protection of investors / shareholders was one of the primary objectives of the Companies Ordinance 1984 and their interest was protected by the delivery of timely, reasonable and meaningful information. These were annual and interim accounts that could provide (to Hamm about the affairs of the company), but the company's chief executive and directors said that the Commission of default clearly failed to protect the interests of investors / shareholders. It showed that the company was complying with the provisions of the law
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