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Judicial Miscellaneous No.45 of 1984, decided on 28th September, 1986.

---Ss. 76, 137(3) & 249-A--Failure of Company to convene Annual General Meetings--Contention of company that if two months time was granted they would convene annual general meeting as required under S. 76--No opposition made to grant of such prayer which otherwise was quite reasonable--Company accordingly allowed two months time to hold annual general meeting--Petitioner and his counsel being absent, no fine imposed on company.

Petitioner (absent).

Makhdoom Siddiqui for Respondent.

This petition under sections 249-A and 137(3) of the Companies Act as amended by the Companies Ordinance, 1979 has been filed by the Deputy Registrar, Joint Stock Companies with the following prayers:-

(a) To file with the petitioner Annual Summaries of share capital and list of share-holders on the prescribed Form "E" for the years 1981 and 1983 as required under section 32 of the Companies Act, 1913.

(b) To file with the petitioner Audited Annual Balance Sheets and Profit and Loss Accounts of the Company together with Directors Report, etc. for the years ending 30-9-1981 and 30-9-1982 as required under section 134 of the Companies Act, 1913.

(c) In case, Annual General Meetings required under section 76 have not been held and -Audited Balance Sheets and Profit and Loss Accounts not laid thereat as required under section 131 of the Companies Act, 1913 then to take steps for convening the general meetings and laying thereat all over due Annual Balance Sheets and Profit and Loss Accounts and also to furnish information in this regard, besides filing the documents in question alongwith treasure receipts for the prescribed filing fee.

(d) To file statements on Form XII showing changes etc. in the Director Chief Executive etc. and their particulars since 1972 as required under section 37 of the Companies Act, 1913.

(e) To furnish the information, clarification etc. to the petitioner as asked for in para. 5 of Annexure 'A' to the petition.

(f) Costs of the petition may also be allowed. ,

The petitioner and his counsel are absent today. However, the learned counsel for the respondent who is present states that in so far the prars (a) and (b) of the petition are concerned they have already complied with and necessary returns have been filed in this regard with the petitioner. With regard to prayer contained in clause (c) it is contended by the learned counsel for the respondent that if two 'months' time is granted to the respondent they will convene the annual general meeting as required under section 76 of the Companies Act as amended by the Ordinance. There appears to be no opposition to the grant of the prayers made by the respondent which otherwise appears to be quite reasonable. I accordingly grant two months time to the respondent to hold annual general meeting as required under section 76 of the Companies Act from today. As the petitioner and his counsel are absent I am not inclined to impose any fine on the respondent.

S.Q./D-12/.K Order accordingly.

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