Failure to comply with the provisions of Sections 11, 28 and 156 \ Minimum Paid Shares Capital - ??? Capital Requirements \ Violation of the provisions of Sections 28 and 11 (1) (a) of the Insurance Ordinance 2000 of the Company. Was. In addition to operating on the day of the company and the management of its business, the minimum paid-up capital requirements of the company's directors and chief executives also have certain responsibilities, namely, the maintenance of duty and some of the broader responsibilities that are required by law. Imported. They and the company's directors and the company's chief executive should be well aware of their legal responsibility. And in the above case the company had no legal obligation as well as the above company did not comply with the legal requirement that the least paid share capital company was one of the oldest and profitable insurance companies of Pakistan. ? It did not happen that non-compliance had severely affected the rights and interests of any of its stakeholders during the period of the Securities and Exchange Commission, fined Rs 100,000 for exercising the powers acquired under Section 156 of the Insurance Ordinance 2000. Was imposed. For default / permanent default of the provisions of section 11 (1) (a) and 28 of the Chief Executive of the Insurance Ordinance, 2000, the directors and the company were warned and asked to comply with future conditions. Use caution when doing so. Law \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2013
