Sections 235 and 476 Excess Return on Assessment of Fixed Assets Account for Non-Profitable Profit Exchanges Excess Return on Fixed Assets Account Recovery through Fixed Company Profit / Profit Loss Depression was shifting. Under Section 235 of the Companies Ordinance, the explanation presented by the company was not satisfactory and the case was settled for hearing and the chief executive appeared on the date of the hearing and cited written submissions and stated that his opinion I have adopted this behavior. The company did not affect the true and fair view of the affairs of the company, the chief executive further argued that the accounts were properly disclosed. And the company did not attempt to hide anything from the shareholders, however, they admitted not to comply with the requirements of section 235 of the Companies Ordinance 1984, and assured of a default correction in the company's financial statements. In view of the assurance given by the Chief Executive for future compliance, instead of imposing a humble view, each director shall be charged a maximum of Rs. 20,000, only upon the Chief Executive of the Company mentioned above. Other directors were strictly banned. Warning to be careful in the future
Related judgments — Securities and Exchange Commission of Pakistan, 2010
