MUHAMMAD M. ISMAIL, CHAIRMAN versus EXECUTIVE DIRECTOR (ENFORCEMENT)
Section 208 Securities and Exchange Commission of Pakistan Act (XLII of 1997), Section 33 Investing in a related company and operating without special resolution Implementation of a penalty appeal to the appellate bench company without the approval of shareholders Investing in its associated activity Will work Under the Companies Ordinance, 1984, companies were required to invest in affiliated companies under special resolution authority; Appellant cannot be allowed to ignore the requirements of section 208 of the Companies Ordinance, 1984 on this request. May change board of directors / resolution specials. The Company's resolution management discouraged the shareholders from exercising their legitimate right to decide to invest in the penalty associated with it, in the event the Company did not obtain prior approval in terms of section 208 (1) of the Ordinance. The company was rightly imposed. , 1984 Neither the Board of Directors / App Roll nor any unanimous resolution was approved at an extraordinary general meeting; the Companies Ordinance may substitute the special resolution requirement before investing under Section 208 of 1984. Is \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2010
