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AST WEST INSURANCE COMPANY LTD versus

Sections 208 and 476 Investing in an Affiliated Company Without Special Resolution Authorization It was revealed that the Company's audited accounts for the relevant year had been fined that the company invested in its affiliated company without special resolution authorization. That was a violation. Under the provisions of Section 208 of the Companies Ordinance, the 1984 General Manager, who appeared on behalf of all directors, recognized the default and assured that any such default would be imposed in the future. Instead of having a soft attitude. Each director fined Rs one lakh, each director and chief executive was fined Rs one hundred thousand (one hundred and eighty thousand rupees).

Related judgments — Securities and Exchange Commission of Pakistan, 2009

• INTERNATIONAL HOUSING FINANCE LTD 2009 CLD 970
• N.U.A. SECURITIES (PVT.) LTD 2009 CLD 995
• MAHA SECURITIES (PVT.) LTD 2009 CLD 1051
• MUSTEHKAM CEMENT LIMITED 2009 CLD 1154
• EAST WEST INSURANCE COMPANY LTD 2009 CLD 1197
• PAKISTAN MUTUAL INSURANCE COMPANY (GUARANTEE) LIMITED v. CHAIRMAN, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN 2009 CLD 1374
• AZEE SECURITIES (PVT.) LTD. 2009 CLD 1416
• INVESTEE MUTUAL FUND LIMITED v. DIRECTOR (NBFC DEPARTMENT 2009 CLD 1577

All Securities and Exchange Commission of Pakistan judgments of 2009 →

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