| Case ID |
d7e6302a-6ac9-4ecd-ba75-aa3f34f675b0 |
| Body |
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| Case Number |
Judicial Miscellaneous Applications Nos. 19 to 21 |
| Decision Date |
May 18, 2001 |
| Hearing Date |
|
| Decision |
The Sindh High Court dismissed the petitions filed by Messrs Shaheen Foundation, a trust registered under the Charitable Endowments Act, claiming mismanagement and oppression in the affairs of Messrs Capital F.M. (PVT.) LIMITED. The petitions were found not maintainable as the petitioner could not demonstrate the required shareholding percentage as stipulated under the Companies Ordinance. The court ruled that the Foundation, as a trust, could not sue in its own name without the authority of its trustees. Furthermore, the court emphasized that the alleged mismanagement claims did not provide sufficient grounds for intervention under the relevant sections of the Companies Ordinance. |
| Summary |
This case involves the Sindh High Court's decision regarding applications filed by the Shaheen Foundation against Capital F.M. (PVT.) LIMITED. The Foundation alleged mismanagement and oppression of its minority shareholder rights. The court addressed key legal principles regarding the maintainability of suits by trusts and the requirements for filing under the Companies Ordinance. The ruling highlights the distinction between trusts and their trustees, asserting that a trust lacks juristic personality and cannot initiate legal proceedings in its own name. The court ultimately dismissed the petitions due to insufficient evidence of the Foundation's shareholding and the nature of the claims, emphasizing the necessity for compliance with legal requirements under the Companies Ordinance. This ruling sets a precedent for similar future cases involving trusts and their legal standing in corporate governance disputes. |
| Court |
Sindh High Court
|
| Entities Involved |
Not available
|
| Judges |
SHABBIR AHMED, J
|
| Lawyers |
Iqbal Haider for Petitioner,
Muhammad Afzal Siddiqui for Respondents
|
| Petitioners |
Messrs SHAHEEN FOUNDATION
|
| Respondents |
others,
Messrs CAPITAL F.M. (PVT.) LIMITED
|
| Citations |
2002 SLD 2070 = 2002 CLD 188
|
| Other Citations |
Pramatha Nath Mullick v. Pradhyumma Kumar Mullick AIR 1925 PC 139,
Janaki Bai Ammal v. Sri Triuchitrambala Vinayakar of Melman AIR 1935 Mad. 825,
Raje Anandrao v. Shamrao AIR 1961 SC 1206,
Mehboob Elahi v. K.M. Idrees PLD 1955 Lah. 242,
Charan Singh and another v. Darshan Singh and others AIR 1975 SC 371,
Shiromani Sugar Mills Limited v. Debi Parasad AIR 1950 All. 508,
Treasurer of Endowments for Pakistan v. Inamur Rehman Alvi 2000 CLC 135
|
| Laws Involved |
Civil Procedure Code (V of 1908),
Companies Ordinance (AL VII of 1984),
Companies Ordinance (XLVII of 1984),
Charitable Endowments Act (VI of 1890)
|
| Sections |
92,
290,
290,
5(1),
10
|