CLIMAX ENGINEERING COMPANY LIMITED versus HEAD OF DEPARTMENT (ENFORCEMENT) SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Section 33 Companies Ordinance (XLVII of 1984), Appeals against Sections 231 and 263 Interim Order, Eligibility for inspection of company accounts and books, under the order of Securities and Exchange Commission, under section 231 Was. Companies Ordinance of Companies, 1984 to confirm the sale of land to companies. And in connection with the purchase of the land, directors and sponsors were asked to confirm the transaction, serious doubts about the validity of the transactions / activities, and further investigation into the matters of the Company Authority, were required. In the exercise of the given options. Under the provisions of Section 263 of the Companies Ordinance 1984, inspectors were appointed to investigate all aspects of the company. And submitting the accompanying supporting report to the Commission within 30 days from the date of the order, was an interim order to investigate the affairs of the company, under which the company ( No penalty was imposed on 33 (1) (d). Under the Securities and Exchange Commission of Pakistan Act, 1997, it was provided that there would be no appeal against an interim order which dealt with the entire matter. Did not, as being an interim order, appeal against the order of inquiry was not upheld, which was rejected, in the circumstances
Related judgments — Securities and Exchange Commission of Pakistan, 2014
