| Case ID |
1a11ae3f-bc41-490e-a1cc-85273f98c1d5 |
| Body |
View case body. Login to View |
| Case Number |
Civil Petition for Leave to Appeal No.2813 of 2001 |
| Decision Date |
Nov 18, 2002 |
| Hearing Date |
|
| Decision |
The Supreme Court of Pakistan dismissed the petition for leave to appeal filed by Diamond Industries Limited against the judgment of the Peshawar High Court. The court ruled that the orders passed under Section 10(2) of the Companies Ordinance, 1984, exercised under original civil jurisdiction, were appealable before a Division Bench of the High Court. The impugned order being interlocutory in nature did not warrant an appeal to the Supreme Court, leading to the refusal of leave to appeal. |
| Summary |
The case of Diamond Industries Limited revolves around a petition for leave to appeal concerning an investigation into the company's affairs mandated by the Security and Exchange Commission of Pakistan under the Companies Ordinance, 1984. The Supreme Court highlighted the legal framework that governs such investigations, emphasizing the importance of compliance with statutory requirements. The decision reiterates that procedural matters regarding appeals must be adhered to, specifically where interlocutory orders are concerned. This case touches on corporate governance issues, the role of regulatory bodies, and the importance of shareholder rights, making it significant for legal practitioners and companies operating in Pakistan. Keywords such as 'Companies Ordinance', 'Supreme Court of Pakistan', and 'corporate governance' are critical for SEO optimization. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
Peshawar High Court,
Security and Exchange Commission of Pakistan
|
| Judges |
QAZI MUHAMMAD FAROOQ, JUSTICE,
SYED DEEDAR HUSSAIN SHAH, JUSTICE,
ABDUL HAMEED DOGAR, JUSTICE
|
| Lawyers |
Irfan Qadir, Advocate Supreme Court for Petitioner,
M. Hamid Fawooq Durrani, Advocate Supreme Court instructed by Ch. Akhtar Ali, Advocate-on-Record for Respondents
|
| Petitioners |
Diamond Industries Limited
|
| Respondents |
2 OTHERS,
M. ZAFAR-ULHAQ HIJAZI
|
| Citations |
2003 SLD 421,
2003 PLD 124
|
| Other Citations |
Brother Steel Mills Ltd. and others v. Mian Ilyas Miraj and 14 others PLD 1996 SC 543,
Ch. Muhammad Hussain v. Pakistan Industrial and Credit Investment Corporation Ltd. and others CMA No.948 of 2002 in CA No. 648 of 2002
|
| Laws Involved |
Companies Ordinance, 1984,
Securities and Exchange Commission of Pakistan Act, 1997,
Code of Civil Procedure (Amendment) Ordinance, 1980,
Constitution of Pakistan, 1973
|
| Sections |
265,
10,
33,
15,
185(3)
|