| Case ID |
428c0e94-db22-4c9c-b00f-2296b2810c4d |
| Body |
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| Case Number |
C.O. No. 3 of 2016 |
| Decision Date |
Oct 28, 2016 |
| Hearing Date |
|
| Decision |
The Lahore High Court accepted the petition filed by the petitioners, declaring the Extraordinary General Meeting (EOGM) held on September 29, 2016, as unlawful and invalid. The court directed the company and its directors to hold a fresh General Meeting, allowing the petitioners to participate. The court found that the notice of the EOGM did not comply with the mandatory requirements of section 160(1)(b) of the Companies Ordinance, 1984, as it failed to include a statement setting out all material facts concerning special business to be transacted. The court highlighted that the petitioners' representative was wrongfully prevented from attending the meeting, which compromised the integrity of the voting process. The ruling underscores the importance of adhering to statutory requirements in corporate governance and shareholder rights. |
| Summary |
In the case of C.O. No. 3 of 2016, the Lahore High Court addressed a petition regarding the validity of an Extraordinary General Meeting (EOGM) conducted by Murree Brewery Company Limited. The petitioners, Messrs Kingsway Capital LLP and others, challenged the EOGM held on September 29, 2016, arguing that it was unlawful and invalid due to procedural deficiencies. The court found that the notice for the EOGM did not comply with the Companies Ordinance, 1984, specifically section 160(1)(b), which mandates that notices for meetings involving special business must include a statement detailing all material facts. The decision emphasized the significance of proper notice and the right of shareholders to participate in meetings that affect their interests. The court ruled in favor of the petitioners, ordering a new meeting to be convened, thus reinforcing corporate governance principles and the protection of shareholder rights. |
| Court |
Lahore High Court
|
| Entities Involved |
Murree Brewery Company Limited
|
| Judges |
SHAHID KARIM, JUSTICE
|
| Lawyers |
Mr. Ali Raza, Advocate
|
| Petitioners |
MESSRS KINGSWAY CAPITAL LLP AND ANOTHERS
|
| Respondents |
MURREE BREWERY CO. LTD. AND 10 OTHERS
|
| Citations |
2017 SLD 1430 = 2017 CLD 587
|
| Other Citations |
2016 PTD 1675,
PLD 1997 SC 32
|
| Laws Involved |
Companies Ordinance, 1984
|
| Sections |
290
|