INVESTEE MUTUAL FUND LIMITED versus DIRECTOR (NBFC DEPARTMENT
Sections 158, 233, 245, 265 and 277 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), irregularities in section 33 and noncompliance of some of the 1984 provisions of the Companies Ordinance; Was released. The aforesaid company was regularly registered by the Securities and Exchange Commission as an Investment Company in connection with certain irregularities and violation of certain provisions of the Companies Ordinance, 1984, the appointment of the Inspector of Compensation to the Company Securities and Exchange Commission. , The powers were delegated under section 265 of 1984, that any of the conditions set forth in sub-clauses (i) to (vii) of subsection 265 (b) of the Ordinance were received by the appellant company in response to the showcase notice, The appellant's company cannot refute the factual allegations leveled against it. Responded to a showcase notice, raising irrelevant and irrational arguments. The Companies Ordinance, 1984's Fearless Section 265 was abolished as a Regulatory Commission, it was banned from considering the affairs of its governing bodies to ensure that their affairs were dealt with. Not operated in this manner, leaving its members with reasonable returns. On their investment; the affairs of the company were arranged in accordance with appropriate business principles in prudent trading practices. And that the finances were not enough to jeopardize his peace. Among other tasks, the Commission was required to perform various purposes of the section 265 of the Ordinance of the Company Ordinance; 1984 clearly gave the Commission powers, in this regard
Related judgments — Securities and Exchange Commission of Pakistan, 2009
