| Case ID |
30a23a27-fc9f-4149-aca7-ebe856097f85 |
| Body |
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| Case Number |
C.O. No.6 of 1998 |
| Decision Date |
Nov 12, 1999 |
| Hearing Date |
Nov 12, 1999 |
| Decision |
The proceedings of the extraordinary general meeting held on 12-2-1998 were declared illegal and were quashed. The petitioners were reinstated as directors of the company. The court emphasized that proper notice must be served to each member individually. The meeting lacked quorum and failed to adhere to the mandatory provisions of the Companies Ordinance, 1984 regarding the calling of meetings. The minute book was not maintained properly, as minutes were recorded on loose papers, which hold no sanctity. |
| Summary |
This case revolved around the legality of the extraordinary general meeting conducted for Yasmin Weaving Mills Limited, where the petitioners challenged the election of directors on grounds of improper notice and lack of compliance with the Companies Ordinance, 1984. The court ruled that notice must be served individually to each member, and the proceedings were quashed due to significant procedural violations. The decision underscores the importance of adhering to statutory requirements in corporate governance, ensuring transparency and fairness in the management of company affairs. This case serves as a pivotal reference for understanding the legal framework surrounding corporate meetings and the rights of shareholders. |
| Court |
Lahore High Court
|
| Entities Involved |
Habib Bank Limited,
Messrs Yasmin Weaving Mills Limited
|
| Judges |
AMIR ALAM KHAN
|
| Lawyers |
Kh. Saeed-uz-Zafar,
Muzammil Akhtar Shabbir,
M. Saleem Sehgal,
M. Naeem Sehgal,
Shams Mahmood Mirza,
Mrs. Rubina Yasmeen
|
| Petitioners |
SIDDIQUE MUHAMMAD MALIK,
Muzammil Akhtar Shabbir
|
| Respondents |
IMMAD IFTIKHAR MALIK
|
| Citations |
2000 SLD 522,
2000 CLC 477,
2000 PTCL 483
|
| Other Citations |
Haji Abdul Jabbar and others v. Haryana Asbestos Cement Industries 1987 CLC 726,
Naveed Textile Mills Ltd. Karachi and 3 others v. Central Cotton Mills Limited, S.I.T.E., Kotri, District Dadu and 2 others PLD 1997 Kar. 432,
Election Commission of Pakistan v. Asif Iqbal and others PLD 1992 SC 342,
Firdaus Cooperative Housing Society Ltd. v. Secretary Labour and Cooperative Department, Government of Sindh and 11 others 1987 CLC 1457
|
| Laws Involved |
Companies Ordinance, 1984
|
| Sections |
76,
161(8),
178,
50,
159
|