The Ordinance of Section 33 Companies (XLVII of 1984), Sections 77, 78A, 152 and 406 (1) transfer of shares acquired various finance facilities from the Bank refusing to transfer the respondents. And against this facility, the company pledged various shares with the bank as the security company failed to return the financing facility, the bank disposed of the affiliated shares, the appellant bought the company's shares from the bank and the shares were paid. But paid the full amount of consideration. The appellant filed shares with the company with all the required documents for transfer of the shares in his name, but the company did not comply with the appellant's request nor did the companies' ordinance violate section 77 of the appellant's 1984 law. The reason for the refusal was given. An appeal was filed under Section 78A of the Securities and Exchange Commission of Pakistan, Companies Ordinance 1984, the authority to hear appeals against refusal to register the transfer of shares was granted, the commission could exercise powers together with the court. Where this matter is only about ordering. Registration of shares with the company In the present case, the shares were already transferred in the name of th e Appellant, but the transfer of shares was registered by the Executive Director (Registration) of the company under section 78A (3) of the Companies Ordinance 1984. Had not happened, the company should have ordered to register the shares in the company name. The appellate order was already approved by the court for collusion. And the official liquidator was appointed. The meter was sent to the liquidator, who filed the applicant's name in the register of members under section 406 (1) of the Companies Ordinance 1984.
Related judgments — Securities and Exchange Commission of Pakistan, 2012
