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GENERAL TYRE AND RUBBER COMPANY OF PAKISTAN LIMITED versus

Sections 196, 208 and 476 of investing in a related company and penalizing a violation of the law Examining the annual accounts of the respective company, it has been observed that the management of the company acquired 302,100 rights shares of the respective company. Had made a purchase and paid 3 rupees. 021 million considering this as companies did not pass a special resolution by the company in this regard under the provisions of section 208 of the Ordinance 1984, after the purchase of the rights, the company transferred it to another related company. 074 million was settled for consideration. However, in the history of the sale of such shares, the value was much higher than it was stated that through such arrangements the shares were sold to the Board of Directors, which hurt the company and its members. And such arrangements came into being. Under section 196 (section 1) of section 196 of the Companies Ordinance, the 1984 directors of the company violated section 196 (section 1) and section 208 of the Companies Ordinance 1984 company, under the circumstances of the Companies Ordinance 208 of the Code. , 1984, and three times the indebtedness of his credit policy was already recognized, by purchasing the right shares of the affiliated company and giving priority to the related companies, and ten Millions of rupees were fined. The Company's Company Ordinance, collectively on the Directors, including the Chief Executive of the Company, in violation of Sub-section (1) of Section 2, 08 of 1984 property advocate from Jhatta Bhutta lawyer