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IN THE MATTER OF: MESSRS HAKKIM TEXTILE MILLS LIMITED versus IN THE MATTER OF: MESSRS HAKKIM TEXTILE MILLS LIMITED

Failure to hold the Annual General Meeting Company, under the provisions of Sections 158 and Section 158 (1) of the 476 Companies, was required to hold its annual General Meetings, which failed to hold meetings within the stipulated time. There, showcase notices were submitted. To all directors, including the Company's Chief Executive. He asked them to show cause why the fines imposed under section 158 (4) of the Companies Ordinance 1984 were not imposed. Then the company explained that it had conflicts with previous owners and financial institutions. The cause is closed and at this stage the company had it. No employee is allowed to maintain an account because the company was closed, there was no good reason to justify the default. It was easy for the directors, when the company was not working to produce an annual account and hold annual meetings within the stipulated time, the protection of investors / shareholders, one of the main objectives of the Companies Ordinance, 1984. If the interests of investors were protected. , They will save and invest more. Protecting their interest in the delivery of timely, appropriate and meaningful information Annual and interim accounts could provide investors with information about the Company's annual general meeting about matters, a forum where investors could freely. He could talk, discuss and vote on important issues. Regarding approval of accounts, appointment of auditors, selection of directors, etc., the directors of the company were not complying with the essential rules of law which the company had fixed; famous lower court advocate from Shangla lawyer