GHULAM AHMED ADAM versus EXECUTIVE DIRECTOR (ENFORCEMENT), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Section 492 Misrepresentation requires the Executive Director of the Commission (Enforcement) to provide a description to the Company in relation to the sale of related accounts in the relevant year, in violation of the Company's policy. Revealed that the notice was issued for invalid reason under section 492 of the Company Ordinance 1984, for the year under review of the company's profit and loss account, as a result of the sale of the company in violation of policy. ? The company's directors, dissatisfied with the reaction of the company directors, passed an illegal order and fined Rs 500,000 on each director of the company for misrepresenting the accounts of the executive director of the commission. Further removal was ordered and the default legislature had deliberately fined it under Section 492 of the Kampa. Further Orders for making false statements in financial statements / accounts, 1984. And it was established that in fact the accounts were misrepresented and there was no reason to interfere with the discovery of an undisclosed order on the merit The directors of the company had already improved in the next financial year and complied with the requirements of the law. used to. In view of this, compliance with the law and the corrective measures taken by the directors, the penalty imposed on the directors, was reduced to Rs. 250,000 per director. \ R \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2013
