Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
• What is a company?
• How is it registered?
• Company Debts.
• Debenture.
• Accounts, etc.
Ch 2 TOPICS COVERED
• Courts
• Company Benches
• Procedure of Court
• Appeals against Court Orders
• Securities & Exchange Commission of Pakistan
• Registrar
• Power of Registrar to call for information or explanation
• Seizure of Documents by the Regitrar
• Inspection of Books of Account by Registrar
COURTS
HIERARCHY OF COURTS IN PAKISTAN
• High Court
• Civil Courts
JURISDICTION OF COURTS [SECTION-
7]
• Jurisdiction
means the right, power, or authority to administer justice by hearing and
determining controversies.
• The High Court has the jurisdiction under Companies Ordinance 1984.
– In some cases, Federal Government empowers Civil Courts to have
jurisdiction by the Ordinance.
• For the purposes of jurisdiction to wind up companies, the expression
"registered office" means the place which has longest been the registered
office of the company during the six months immediately preceding the
presentation of the petition for winding up.
CONSTITUTION OF COMPANY
BENCHES [SECTION 8]
• Bench is Forum of Justice comprising of Judges.
b) For more than 14 days at any one time or for more than 30
days in all.
APPEALS AGAINST COURT ORDES
[SECTION-10]
An appeal against the order of the High Court shall lie to the Supreme
Court but -------
• Not every company.
• Only companies with high paid up capital i.e. not less than one
million rupees.
• Where a company, ordered to be wound up has a paid up capital of
less than One million rupees or no share capital, such appeal shall
lie to the supreme court only if the supreme court grants leave to
appeal.
POWER TO MAKE REFERENCE TO THE
COURT [SECTION-13]
• The Federal Govt or the Commissions may make reference to
the court on the matters which are of special significance
1. Receive 5 copies of the statutory report 1. Keep register of mortgages and charges of
of a public company. the company.
2. Extend the period of holding AGM of all 2. Issue the certificate of Incorporation of
the companies other than listed companies.
companies to a maximum of 30 days.
3. Receive documents necessary for 3. Issue certificate of Commencement of
incorporation of a company and other business to the companies.
forms and reports.
4. Right to inspect books of account and 4. To rectify the registers regarding any change
other books and papers of a company. in:
I. Article of Association
II. Memorandum of Association
III. Any mortgage or charge
5. Enter the fact regarding the appointment of
receiver or manager of the company in the
register of mortgages and charges.
POWER OF REGISTRAR TO CALL FOR
INFORMATION OR EXPLANATION
[SECTION- 261]
• When information can be called?