MIAN MUHAMMAD ILYAS MEHRAJ versus APPELLATE BENCH NO.III, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD
The Ordinance of Sections 30 and 21 Companies (XLVII of 1984), Sections 158, 170, 171 and 178 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), the annual general meeting held by the Section 24 Company, mandatory corporate democracy corporate personality The essence is. The plaintiff's company is held liable for injury, f because the company has suffered two consecutive annual general meetings to hold annual general meetings because the acquisition of the shares was a dispute. Exchange fines. The acquisition of shares (substantial share of voting shares and takeaways) on the breach of companies listed in the legitimate disputes of the Commission of Pakistan should not have been the basis for the Ordinance, 2002, not to hold annual general meetings for two consecutive years, but Acquisition of shares on breach of provisions. The listed companies (substantial share of voting shares and takeaways) ordinance, 2002 cannot be justified for the administration of a company that chooses a course other than a legal course. The effect of direct ordinance is dominant but with some limitations. This ordinance reviews only provisions of the Companies Ordinance, 1984, which conflict with the previous legal provisions of section 178 (2) (3) (4) (5) of the Companies Ordinance, 1984. The substantial acquisition of voting shares and takeaways, the Ordinance of 2002, therefore, section 178 (2) (3) (4) (5), the Ordinance of Companies, 1984 shall apply to the target companies with all their strength and rigor, as well as the members. No need to miss out (Choosing to join the Director Election of Directors' agenda at the Annual General Meeting, in favor of the heir, within a certain timeframe by the management of the meeting.
Related judgments — Lahore High Court Lahore, 2009
