Sections 492 and 476 Companies (capital issuance) Rules, 1996, R 5 Disclosure of Emergency Liabilities in the Expected Financial Statements and Emergency Liabilities of the Company with its Bank Liabilities in its Annual Audited Accounts of the Year Related Not disclosed. The company's directors also misrepresented the financial statements submitted by the director's loan to the fund-raising commission in 2007. For the Company to disclose permanent obligations in the Company's documents, it was not acceptable for all directors who acknowledged the disclosure and assured to make the required disclosures in the future, further complicating the issue. Needless to say, the proposals made by the directors and their authorized representatives regarding the issue of misrepresentation pro were not very convincing, as were the forecasts of the company's financing of equity and director's debt. Was based on the injection of funds through. Other sources of financing for the company were not estimated during the expected period. The company could not pay the funds and its long-term obligations and failed to achieve the expected results. Situations have shown that the company's expected financial statements presented to the Commission in 2007 were misused to present a promising picture of the company. Although matters were settled under section 492 of the Companies Ordinance 1984, the fact is being considered that the Company disclosed emergency obligations in half-yearly accounts for the period ended December 11, 2009, and more Instead of being fined more than
Related judgments — Securities and Exchange Commission of Pakistan, 2010
