YOUNUS DAWOOD, CHIEF EXECUTIVE versus DIRECTOR (ENFORCEMENT)/ADDITIONAL REGISTRAR OF COMPANIES, SECURITIES AND EXCHANGE COMMISSION OF PAKI
Failure of the 33 Companies Ordinance (of 1984 of of XLVII), Sections 214, 216 and 476 of the Companies Directors to indicate the nature of their concern and interest in the contract or management of the Board of Directors. Was Create a quorum at the time of the negotiation and voted in favor of investing equity in the relevant company in violation of provisions of Companies Ordinance 214 and 216, under the Director of the Commission (Enforcement) on the Chief Executive of the Commission 2 , 000 was fined. Under the section 214 of the Company Directors Company Ordinance, 1984, a director of a company was required to disclose the direct interest of the company interested or interested in any contract or arrangement made by the company and should be discussed. I was not allowed to participate. Or vote on an agreement or arrangement in which he is interested. The presence of the interested director was not counted for the purpose of farming. The G quorum of the board of directors' meeting in which the terms of section 216 of the Company Ordinance As such agreement or arrangement was negotiated, the Company's 1984 directors failed to comply with the provisions of section 214 of the Company Ordinance; the 1984 Company changed the directors' interest on the statement of material facts to include penalties. Notwithstanding the right to comply with the provisions of Section 214 of the Companies Ordinance, 1984 In the absence of any failure that was imposed to intervene in order unknown reason, the appeal was rejected, \ conditions r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2013
