INAYAT ULLAH NIAZI, DIRECTOR, D.G. KHAN CEMENT COMPANY LIMITED versus EXECUTIVE DIRECTOR, ENFORCEMENT
Section 208 Securities and Exchange Commission of Pakistan Act (XLII of 1997), Section 33 raised concerns about investing in related company and operating without special resolution company authority and stated that the accounts of the company had been disclosed in advance. Which was previously disclosed. Shares, but no shares were issued through the associated concern, and after about one year the amount received by the Company has been returned to the Company, the Company's prior shareholders have only issued equity in the shares of the respective companies. The investment was approved. At their extraordinary general meeting, the concern of the shareholders in the range of Rs 700 million was to approve equity investments only, but the company invested in advance, and did not receive interest on the company. Enforcement) Any amount of property financed by the Commission, whether in advance or under section 208 of the Equity Meter, Company Ordinance, 1984, is the argument of the Company's Directors that it is an equity investment and an advance case. Not presented with facts of The aforementioned amount was raised when the issue of shares was not offered by the concerned concern. Whereas, after the special contract was approved, enrichment of the authorized capital was a prerequisite for increasing the company's paid-up capital, in the circumstances, the company could be considered in advance of the company affiliated with it. The representative of the directors of the company, which did not cause any harm to the directors, was the authority without any basis when instead of imposing a fine of Rs 1.5 lakh on each director.
Related judgments — Securities and Exchange Commission of Pakistan, 2013
