SHOW CAUSE NOTICE ISSUED UNDER SECTION 224(4) OF THE COMPANIES ORDINANCE, 1984 TO BANK ALFALAH LIMIT versus
Under Section 222, 223 and 224, the beneficial owners of the securities bank, who are more than ten percent shareholders of the issuing company, fail to present their statements, on section 31, the return of beneficial ownership is set out under section 222. Must be entered within the period. Companies Ordinance, 1984, but it failed to discharge the aforesaid obligation which attracted the incentive orders contained in section 224 (4) of the Companies Ordinance 1984, to the beneficial owners / persons, their share of the shares. The report also reported changes in the acquisition as well as changes in the shareholding. Registrars of companies and commission officers and more than ten percent of the shareholders of a listed company were required to meet their legal requirements within the timeframe provided by law. The Commission can be judged on the fact that it will be able to oversee the trading activities of the Commission. E-Bank violated the provisions of section 222 of the Companies Ordinance 1984, but it acted immediately upon receipt of the letter. And filed a Form 31 record which disclosed that the bank had not taken any purchase or sale transaction in the issuer's shares. The humble opinion of this mistake, in exercising the powers granted under section 224 (4) of the Companies Ordinance 1984, had imposed a fine of Rs 30,000 on the bank. And there is no further fine for the permanent default, which can increase by a thousand bucks for the default period.
Related judgments — Securities and Exchange Commission of Pakistan, 2012
