Sections 208 and 476 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), section 33 invested in related companies and the appellant company specially invested up to Rs 120 million in the company's relevant under-taxing records. The resolution passed, which shows that the company was having to pay in advance as it was related to, and that the date limit of Rs 120 million had been passed, due to which the company had to date A total of Rs 130 million was advanced. Thus it exceeded the approved limit of Rs 120 million, the show notice was issued to the company on additional investment exceeding the approved limit of Rs 120 million, the appellant was dissatisfied with the response of the company, each The company had a fine of Rs 1 lakh and the company's validity special resolution had clearly stated that the appellant company had the option to invest up to Rs 120 million. And the words of the contract did not restrict it to any investment or investment made within a single period; in accordance with the special resolution, the amount of 120 million in advance of the related commitments on a recurring basis. Can be given. The current amount did not exceed Rs 120 million. In the present case, periodic, periodic payments were made and the net outstanding advance at the end of accounting for the outstanding amount was only Rs. 59 million. And at no point did the authority exceed the approved limit of Rs 120 million, in which case, the repeated nature of the investment was misunderstood as Rs 120 million in the special resolution.
Related judgments — Securities and Exchange Commission of Pakistan, 2014
