| Case ID |
155c62de-783c-4d2b-8713-b0c5f7f4a6a9 |
| 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 of Pakistan upheld the Islamabad High Court's decision to wind up Control Risk (PVT.) LTD., affirming that the company was engaged in activities beyond the scope of its Memorandum of Association. The court found that the company was providing security-related services that posed a risk to national security, and its responses to the allegations were evasive. The court also dismissed the petitioner's claims that they had not been given a fair opportunity to present their case, noting that they were adequately represented by their counsel during the hearings. The court concluded that the High Court's procedures were followed correctly, thus rejecting the petition for interference. |
| Summary |
In the case of Control Risk (PVT.) LTD. vs. Additional Registrar Companies Registration Office SECP, the Supreme Court of Pakistan addressed the winding up of the petitioner company under the Companies Ordinance, 1984. The petitioner, engaged in risk management and security-related services, was found to have violated the terms of its Memorandum of Association by conducting activities that posed a security threat. The court highlighted the importance of proper representation in legal proceedings and affirmed that the Islamabad High Court had acted within its jurisdiction. The decision underscores the responsibilities of companies to adhere to their declared objectives and the legal framework governing corporate conduct. Keywords such as 'winding up', 'Companies Ordinance', and 'corporate compliance' are crucial for understanding the implications of this case. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
Securities and Exchange Commission of Pakistan,
CONTROL RISK (PVT.) LTD.
|
| Judges |
MIAN SAQIB NISAR,
IJAZ-UL-AHSAN,
SAJJAD ALI SHAH
|
| Lawyers |
Barrister Yousaf Khosa,
Mr. M.S. Khattak,
Syed Hamid Ali Shah
|
| Petitioners |
CONTROL RISK (PVT.) LTD.
|
| Respondents |
ADDITIONAL REGISTRAR COMPANIES REGISTRATION OFFICE SECP
|
| Citations |
2019 SLD 2340,
2019 PLJ 366
|
| Other Citations |
Not available
|
| Laws Involved |
Companies Ordinance, 1984
|
| Sections |
305,
309(b),
309(c)
|