Find a Lawyer

IN THE MATTER OF: MESSRS REDCO TEXTILES LIMITED versus IN THE MATTER OF: MESSRS REDCO TEXTILES LIMITED

Failure to file a Section 245 quarterly account, the penal company's enforcement submitted its second quarter account with a delay of one month and 18 days for the relevant period, while they were subject to section 245 of the Companies Ordinance, I984 Failed to file in its third quarter account accordingly. And the company's chief executive, in response to the Kaz notices, said that the delay in presenting the account was not intentional, but rather the result of a mistake by a member of the accounts staff and the company's board of directors Note that such mistake and assurance that there will be no delay in the submission of financial statements in the future, the explanation offered for the disclosure of the notice was not found satisfactory as the company had in the past also made such assurance. The call was made, but it has always failed to comply with the law. The basic purpose of the Companies Ordinance, 1, is to protect investors / shareholders under the law 984 If the interests of the investors are protected, they would have maximized savings and investment, annually and interim accounts to the investors. The company's track record provided quarterly / half-year accounts submission information. Satisfactory company was already committing defects in submitting annual accounts of grass since 2000 and quarterly accounts since 2001 for which directors had previously been fined, in such cases, deliberately. Instead of taxing and deliberately imposing a maximum fine of Rs 100,000, they were imposed. One day for each director and more defaults solicitors from Bhimbar lawyer