Sections 11 (1) (f), 12, 59A and 156 by the on-site inspection revealed that the company has no investment policy, and that it did not meet the criteria of accurate and careful management. Nor is there an investment committee or department that has been examined to make investment decisions. No research report or rationale was provided to the commission team on the basis of which investment decisions were made, which resulted in loss of investment, transaction in the company was not done with proper care and Occupational skills were observed by the inspection team. The company did not have any policies and operational manuals, which also violated the corporate governance code clause, under which the Board of Directors would set up key policies and establish a sound internal control system. Which was effectively implemented at all levels. Company Prima Fees, it turns out that the Company's internal control system was very weak due to the absence of significant policies, procedures and procedures that deal with the Company's business with proper care and professionalism. Because of the need for relevant provisions. Sections 11 and 12 of the Insurance Ordinance, in addition to the Company's 2000 directors, in addition to the day-to-day running of the company, and the management of its business, there were also some "sincere" duties, some of the most trustworthy duties, and some of the larger duties. Enforcement by law; and violation of these legal duties will generally be a criminal offense considered by the directors against the high standard of respondents;
Related judgments — Securities and Exchange Commission of Pakistan, 2013
