ATTOCK REFINERY LTD. versus EXECUTIVE DIRECTOR, ENFORCEMENT AND MONITORING DIVISION, S.E.C.P.
Sections 265 (b) and 485 (1} of the Constitution of Pakistan (1973), Article 185 (3) Order of the Security Exchange Commission, dismissed a chartered accountant's firm for investigating matters on the basis of section 485 (1). The Ordinance of Companies, 1984, was that such an appointment would affect its credibility. The valid inquiry would remain pending until the investigator's report was made. The Security Exchange Commission investigated the company's affairs. Had a portion of the matter under trial, the appointment of an investigator would be the purpose of delivering the case under section 858585 (?) of the Ordinance to avoid a collision judgment and the Commission The role of the Security Exchange Commission was to ensure the absence of delays in interrupting the rollout. Complex tactics had led to a disappointing investigation of their affairs over the past nine (9) years, and the Commission itself was involved in the investigation. There should be no hesitation, if he can answer and answer the important and informed question raised by the Commission, such an application would hardly present the founding clauses of section 265 of the Companies Ordinance, the Supreme Court of 1984 Refused to grant leave for appeal in the circumstances
