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MESSRS WALI OIL MILLS LIMITED: IN THE MATTER OF versus MESSRS WALI OIL MILLS LIMITED: IN THE MATTER OF

Sections 86 (3) and 492 Companies (capital issuance) Rules, 1996, R 5 Implementation of penalty for false statements and financial misrepresentations in the relevant circular filed with the Registrar offering new shares to increase company capital. The shareholders and the shareholders, under Section 86 (3) of the Ordinance 1984 of the Companies Ordinance of Communications Registered with the Circular Correct Offerings, do not disclose the directors' intention that the debt of the director in connection with this issue Will be used correctly to switch to variations of. Financial estimates and factual results show that there was not necessarily consistency in making investment decisions, resulting in the failure of the Company to translate the expected results into reality and represent the management in front of shareholders. Concerns arose about From time to time, the commission's basic information about capital flows, director's loans, and opera provided the results of the tang provided in the estimation of the correct issue, were misrepresented, and material facts were left unaddressed. Submission to the KI regulator did not go unnoticed by the company, resulting in financial implications. This issue reflected the flaws in the company's financial control. The financial estimates (capital figures) 1996, produced under Companies R5, revealed that the implementation of this project was completely against the financial. Projection; It has also been observed that at the time of approval of the correct issue the use of proceeds of the correct issue for the purposes disclosed in the financial estimates presented to the shareholders. law websites from Islamabad lawyer