- The Companies Ordinance (XLVII OF 1984)
- The Companies Act, 1913.
- The Partnership Act, 1932.
- Competition Ordinance, 2007
THE COMPANIES ORDINANCE (XLVII OF 1984)
Sect. 196
Only competent person can file & initiate legal proceedings – Subsequent ratification by the Board Resolution can only be availed if the Board of Directors were empowered to so rectify in the articles of association authorized person(s) to commence legal proceedings should be either nominated, whether by designation or otherwise in the Article, or there should be a Board resolution authorizing to do so.
M/S Sayed Bhais Vs. Govt. of Punjab
PLD 2012 Lah. 52.
Sec . 217, 214, 215, & 216.
Declaring a director to be lacking fiduciary behaviour –Exceptions-such declarations can only be made if any director or directors contravene the provisions of S 214 or s.215(1) or s.216 of the Companies Ordinance 1984
PLD 1995 LAH 264
SEC. 290, 410, 412, 413, & 415
The registrar of companies Pak. Vs Taj company Ltd. 8 others
Liability of delinquent directors- the scope of above stated sections stated.
1993 CLC 1413(LAH)
Directors hold fiduciary relationship qua the Co.
PLD 1992 SC 276
Law Reforms Act, 1972 – Appeal
Section 10(2)
Jurisdiction of Company Judge is original jurisdiction conferred by statute – Order passed by Company Judge wherein the company is not wound up is subject to appeal before the Bench of High Court comprising of two or more Judges under Sect. 3 of Law Reforms Ordinance, 1972… This jurisdiction has not been taken away with regard to appeal filed U/S 10(1) e.g. against the winding of order. Sect. 10(1) say that appeal against my order or decision made or judgment rendered by the Court under this Ordinance shall lie to Supreme Court.
Sunrise v. Mashreq Bank
PLD 1996 Lahore 1 (D.B)
Re: IDBP vs. Kamal Enterprise
PLD 1995 Quetta 41 dissented.
CONCURRENT JURISDICTION
Cr.P.C Ss. 5, 29, 194, 526 & SCHEDULE-II; &
CONSTITUTION Art.25
Proceedings to be initiated before lowest forum irrespective of the status of litigants.
1995 MLD 1615N LAH
THE PARTNERSHIP ACT, 1932.
Section 45
True import is “continuing liability” in the absence of notice of dissolution of a partnership, of the ex-partners to third parties. Section 45 is to protect third party who deals with partners of the firm after dissolution. Without such notice and in good faith.
Muhammad Sharifan Bibi Vs. Muhammad Yasin
2012 SCMR 82