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SEARLE PAKISTAN LIMITED versus

Sections 208, 254, 473 and 476 Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 20 (6) Investments and operations in related companies Annual audited accounts for the relevant year indicate that Company iv commercial loans As the balance receivable relates to the associated and other receivables from the company concerned, in the circumstances the Companies Ordinance violated the provisions of section 208 of 1984 and the company's directors were liable for fines. , The company's chief executive and director, violated their fiduciary duty by providing unnecessary business Erie entities benefit where they were major shareholders and thus acted against the interests of their shareholders; the chief executive and directors did not take proper precautions when entering into a transaction with the affiliated business, Which proved that the Chief Executive and all directors had deliberately and knowingly avoided compliance with T, by deliberately and deliberately complying with the pre-requisite provisions of the Companies Ordinance 1984. Was considered and the offense committed by the Chief Executive and the Directors under Section 208 (3) of the Companies Ordinance. Blamed himself for the company's 1984 directors, deserving of no sympathy on this account, but in view of the fact that instead of imposing a maximum penalty on the default, only one million four hundred A total fine of Rs thousand was imposed, according to which the company was directed to make an immediate appointment. Legal auditors or companies are required to comply with the provisions of section 254 of the Ordinance 1984 law firms from Hariwala lawyer