SUCCESS INDUSTRIES (PVT.) LTD. versus THE REGISTRAR (SECP)
Sections 21, 96 and 97 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), section 33 listed the Form A and Form 26 in the memorandum reduction of the share capital appellant company, in which the paid up capital of the company is Rs. Is divided into Each company's share of Rs 100 submitted a petition stating that the amount paid due to typing error was incorrectly mentioned and the company's paid up capital was actually Rs 10,000 on 100 shares of each company. Which requested the commission to correct the payment error. The Company's investment request was not accepted on the basis that it was a case of reduction in paid-up capital, which is under the jurisdiction of the High Court under Sections 9 and 97 of the Companies Ordinance, 1984 The point was that the typing error and not the reduction of capital would have the effect of reforming the company, the capital would be reduced, and the power to reduce the cap, albeit in the memorandum of the High Court, only in the Companies Ordinance of 1984 Can be made in connection with the objections of the company described in Sections 21 (1) (a) to (g), including modification of share capital was not. Treatment of the Company was expressly provided for in Sections 96 and 97 of the Companies Ordinance 1984, under which the High Court had exclusive jurisdiction over the matter. \ R \ n \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2013
