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MUSLIM COMMERCIAL BANK LTD. THROUGH SECRETARY versus ABDUL HAMID ADAMJEE

Section 12 Companies Ordinance (XLVII of 1984), Section 187 In his case, the company's inability to be the plaintiff requested the defendants' disqualification on the basis that they, as the director, meant section 12 of the insurance ordinance. Not suitable for working. , 2000 Security and Exchange Commission of Pakistan, found nothing in its report stating that the defendants are not eligible for the proper and careful management test described in Section 12 of the Insurance Ordinance, 2000, There was no integrity or professionalism on the basis of which the defendants were disqualified, it was that the two other companies in which he held the office of directorship became bankrupt, Nothing was brought on record to establish that any court had declared the defendants as defaulters. Loan payment to a financial institution to attract clauses of section 187 (1) of the act, 1984 was intended to disqualify an individual from working as a company director. However, he did not identify any of the findings of the fraudulent spree or the report of Pakistan's Security and Exchange Commission of Pakistan's disqualification. Reduction; In the absence of any material to justify disqualifying persons disqualified under Section 12 of the Insurance Ordinance 2000 or section 187 of the Companies Ordinance 1984, the suit is dismissed \ r \ n \ r \ n famous high court advocate from Dhoun Kal lawyer