Sections 160 and 476 examine the notice of abnormal general meeting of a company found during the implementation of the Securities and Exchange Commission's Criminal Enforcement Department notice of a meeting with a general meeting of a company or a class of company members. Done. It held that there was no material fact in the notice of special business relating to the increase in the matter of capital and bonus required under 5 160 (1) (b) of the Companies Ordinance, 1984, in view of the fact that the company had Did not disclose shareholders material information and failed to place a special business agenda item for the shareholders to approve, the company's directors issued a show cause notice to explain the situation, but they satisfactorily clarified Could not say that the company ranked both of the items on the agenda. Under the special business title, but did not provide the shareholders with the material facts required under section 160 of the Companies Ordinance, the 1984 company also needed to pass a resolution regarding the issue of shares, such as a special business meeting. Notice, under the circumstances, that the provisions of section 160 of the Companies Ordinance were not complied with, the provisions of section 160 of 1984 were violated by the Companies Ordinance, 1984, the Company's Chief Executive and Directors' Companies Ordinance 1984 Section 160 (8) were found liable for the fines described in. However, instead of imposing a maximum penalty on all directors, each director was fined only ten thousand rupees.
Related judgments — Securities and Exchange Commission of Pakistan, 2009
