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GLOBE TEXTILE MILLS LTD versus

Regarding the sale of mismanaged plant and machinery by the directors of Sections 196 and 472; and short-term debt from the relevant parties, it was stated that the directors of the company had devised a comprehensive scheme to meet their interests and to do so. The shareholders of the company have been deprived of due to which proceedings were initiated under Sections 196 and 472. The Companies Ordinance, 1984, required the chief executive and the company's directors to specify their position in writing within the specified time, but they failed to comply with the due date and the notice of cause. The answer was in writing. Presented after reminder releases that are not satisfactory. In this regard, instructions were issued under section 196 of the Companies Ordinance 1984. That the company was prevented from allocating the amount received due to the balanced consideration of the sale of the property under the settlement of the outstanding debt payment settlement agreement and was told that the company was transferred to a separate charging bank / deposit account. Which will be opened by the company specific. The bank was instructed that the operational control of the said account would be at the behest of the Security and Exchange Commission. Pakistan, top advocate family court from Chitral lawyer