| Case ID |
1b852805-f62f-47f5-953b-f5479bf8d9e4 |
| Body |
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| Case Number |
Civil Original No. 80 of 1981 |
| Decision Date |
Apr 04, 1982 |
| Hearing Date |
Mar 17, 1982 |
| Decision |
The Lahore High Court dismissed the petition filed by Taj Woolen Mills Limited seeking confirmation for amendments to their Memorandum of Association. The court found that the proposed amendments were not lawful due to the absence of a special resolution being passed by the company members with the required notice. The minutes of the meeting did not indicate any such resolution was proposed or passed, and thus the application for amendment could not be confirmed. |
| Summary |
In this landmark case, Taj Woolen Mills Limited sought to amend its Memorandum of Association to include additional clauses pertaining to new business activities. The Lahore High Court ruled against the company, emphasizing the necessity of adhering to the Companies Act, particularly regarding the proper procedure for passing special resolutions. The court highlighted that the lack of a proper notice and the failure to circulate the proposed resolution for a minimum of 21 days rendered the amendment invalid. This case underscores the importance of compliance with corporate governance standards and the legal framework surrounding company operations. Keywords: Companies Act, Memorandum of Association, special resolution, corporate governance, legal compliance. |
| Court |
Lahore High Court
|
| Entities Involved |
Taj Woolen Mills Limited
|
| Judges |
GUL MUHAMMAD KHAN, J
|
| Lawyers |
Irshad Ahmad Qureshi
|
| Petitioners |
TAJ WOOLEN MILLS LTD.
|
| Respondents |
MUHAMMAD YOUNAS, ASSISTANT OF OFFICE OF ASSISTANT.REGISTRAR
|
| Citations |
1982 SLD 869,
1982 PLD 664
|
| Other Citations |
MacConnell v. E. Prill & Co., Limited (1916) 2 Ch. 57
|
| Laws Involved |
Companies Act (VII of 1913)
|
| Sections |
12,
78(1),
79(1)(b),
81(2)
|