Sections 245 and 476 Failure of the Company to prepare and file its account within a fixed period, the implementation of the fine which the Company is required to prepare (account) under section 245 of section 245 of the Ordinance 1984 and its accounts for the relevant period Was required to file. Failure to do so with the commission within the specified timeframe, one of the reasons the company offered to delay filing, said the accounts had to be restructured and refurbished its financial reporting system After that it needed to be improved, then the accuracy company should not have eliminated the current financial reporting. The system completely redesigns the data even before the successful implementation of the redesign / redesign, during the reorganization and renewal of the financial reporting system in the interim period of the new reporting system. Could have been used, in the circumstances, as a matter not considered. The reasons for the delay in the submission of accounts may not be limited resources are considered as a valid reason for not submitting thematic accounts within the stipulated time as the company must fulfill its legal obligations. The arguments presented on the part of the company do not justify the delay in submitting the default account quarterly under section 245 (1) (b) of the Companies Ordinance. Since the establishment of 1984, the Company's Chief Executives and Directors have declared themselves liable for fines under Section 245 (3) of the Companies Ordinance, 1984, keeping in view the financial crisis the Company is facing, A gentle look was taken and instead, every director at the company made more and more
Related judgments — Securities and Exchange Commission of Pakistan, 2009
