| Case ID |
0546f063-5e18-409d-8aae-b376963639e2 |
| Body |
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| Case Number |
Civil Petition No. 2669 of 2016 |
| Decision Date |
Oct 31, 2018 |
| Hearing Date |
Oct 31, 2018 |
| Decision |
The Supreme Court upheld the decision of the Islamabad High Court to wind up CONTROL RISK (PVT.) LTD., confirming that the company was engaged in activities beyond the scope of its Memorandum of Association (MOA), specifically providing security services in a manner that posed a risk to national security. The court emphasized the distinct nature of the provisions under Sections 309(b) and 309(c) of the Companies Ordinance, stating that the registrar had the authority to present the winding-up petition without needing to conduct a prior investigation. The petitioner's explanations were deemed evasive, and the High Court's order for winding up was upheld for cogent reasons. |
| Summary |
This case revolves around the winding-up petition of CONTROL RISK (PVT.) LTD. by the Additional Registrar of the Companies Registration Office under the Companies Ordinance, 1984. The petitioner company was found to be conducting business activities that exceeded the limits set by its Memorandum of Association, specifically involving security services that posed potential risks to national security. The Supreme Court, in its ruling, affirmed the High Court's decision to wind up the company, highlighting the importance of adhering to the legal framework governing company operations. The ruling clarified the roles and powers granted to the registrar and the SECP under the Companies Ordinance. The court's decision reinforces the significance of compliance with statutory obligations and the necessity for companies to operate within the scope of their MOA. This case highlights critical aspects of corporate governance and the regulatory framework in Pakistan, ensuring that companies adhere to the law and maintain transparency in their operations. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
CONTROL RISK (PVT.) LTD.,
ADDITIONAL REGISTRAR COMPANIES REGISTRATION OFFICE SECP, ISLAMABAD
|
| Judges |
MIAN SAQIB NISAR,
IJAZ UL AHSAN,
SAJJAD ALI SHAH
|
| Lawyers |
Barrister Yousaf Khosa,
M.S. Khattak,
Syed Hamid Ali Shah
|
| Petitioners |
CONTROL RISK (PVT.) LTD.
|
| Respondents |
ADDITIONAL REGISTRAR COMPANIES REGISTRATION OFFICE SECP, ISLAMABAD
|
| Citations |
2019 SLD 770,
2019 CLD 294
|
| Other Citations |
Not available
|
| Laws Involved |
Companies Ordinance, 1984
|
| Sections |
305,
305(f)(i),
305(f)(ii),
305(f)(iv),
305(f)(v),
309(b),
309(c)
|