NAZIR COTTON MILLS LIMITED versus SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Section Companies Ordinance of 33 Companies (1984 1984 of of XLVII), Sections 656565, 7477, 4 into4 and 5 485 (1), Appointment of Chartered Accountant to act as Inspector for Investigation of Company Affairs Company accounts are presented in an indefinite financial position of the company. The company was going down and no steps were taken by its management to reverse the trend of losses and put the company back on track. The company's capital was completely wiped out from its losses, and there were numerous irregularities in the record. In exercising powers under section 265 (b) of the Companies Ordinance, 1984, the Company Authority appointed a Chartered Accountant to act as an inspector to investigate the affairs of the Company, and to bring to light the actual state of the Company's affairs. What. The investigation should not be interrupted in review because it did not deal with the entire matter before the commission's intervention in the order of inquiry, it was not a war according to the law, whether it was revised or appealed before the commission. The scope of the amendment, whether in use or before the court, was limited to the scope of jurisdiction and could not go beyond that in cases involving illicit assumptions, review could be preferred, irrespective of the jurisdiction of the company. Rule Exercise Prioritizes Appeal Against An Unapproved Order Approved By Authority In Exercising Review Options Securities and Exchange Commission of Pakistan have the same section will be no appeal against the order of the review in terms of 33 (1) (B). Investigators of the Act, 1997 were instructed that the w
Related judgments — Securities and Exchange Commission of Pakistan, 2013
