MEHMOOD AHMED, EX-CHIEF EXECUTIVE OFFICER, CRESCENT STANDARD BUSINESS MANAGEMENT (PVT.) LTD. versus ARIF MIAN
Section 33 Securities and Exchange Ordinance (XVII of 1969), Sections 15A & 15B (3) Applicable Insider Trading Impact Appeal for Commission Appellate Bench sold shares of affiliated company, prior to this transaction , Books of relevant persons' accounts were inspected by the company and the directors of the respective company were concerned about the mismanagement of accounts books, unauthorized trade and gross financial credit of the company's chief executive officers as a whole. ? The executive director, inappropriate order executive director, instructs the company to pay the vendor; the company raised the objection that it was never issued a show cause notice as a legal entity, an unwanted order was issued to it. Was approved without providing an opportunity to be heard. , Which was contrary to the principles of the Natural Justice Record, showed that the late appellant's company's executives and chief executive officers were sent notice of mourning in their capacity as company directors, it can be safely said. Being a corporate body / artificial person, the company was regularly represented in the proceedings by its directors. The Directors constituted the entire Board of Directors, the notice sent to the Directors was sufficient notice to the Company. However, during the period of the Sausage Notice, the offices of both directors of the Company expired and they no longer represented the Company. Both said that individuals are presenting in their personal capacity to defend themselves against the showcase notice, which was issued only to them and not to the company company.
Related judgments — Securities and Exchange Commission of Pakistan, 2010
