Unauthorized Investment in Sections 208 and 476 Related Companies and Ordinance of Business Companies In violation of the provisions of Section 208 of 1984, against the imposition of a penal company on unauthorized investment in the form of loans and advances in the affiliated companies. Action was taken, related companies were found to be in violation of the provisions of section 208 of the Advance Extension Companies and Indemnity Companies Ordinance, 1984, the amount of advance and the credit facility granted to the respective companies was declared as ordinary business reputation. Could not be given, and he fell into this realm. The ordinance of the Companies, in contravention of the terms of Section 208 of the section 208 of 1984, was extended without special approval of the shareholders by special resolution and the chief executive and directors had not received any refund on such credit. Was violated. Failure to exercise due diligence Prior to contracting to purchase machinery from related companies, the chief executive and directors provided section 208 of the Companies Ordinance, 1984, in advance for this purpose. Was violated and did not take proper care while extending the credit mentioned on their behalf. The company's directors, however, were in the process of improving the default by recovering the balance amount from the affiliated companies, resulting in an investment of Rs 500,000 on the chief executive and Rs 50,000 on each director. had gone. The Companies Ordinance, 1984 was made without complying with the requirements of Section 208
Related judgments — Securities and Exchange Commission of Pakistan, 2010
