Law: Companies Ordinance, 1984

Section: 160

Companies Ordinance (XLVII of 1984)--S. 160-A---Circumstances in which proceedings of a general meeting (AGM) may be declared invalid---Scope---Petition under S.160-A of the Companies Ordinance, 1984 was maintainable only in case of finished/ concluded meetings---Petitioner sought declaration to the effect that proceedings of the Annual General Meeting of the respondent Company were illegal on ground of a number of irregularities---Validity---Under S.160-A of the Companies Ordinance, 1984, the court had powers to set aside the whole proceedings of an Annual General Meeting or any part thereof, and word "proceedings" used in said section was significant, and "proceedings" of a Annual General Meeting had the vital role---Proceedings of the impugned meeting showed that said meeting was not finalized but was adjourned, under stay order granted by Civil Court---Since the impugned meeting was not concluded and stood adjourned till the vacation of the restraining order of the Civil Court, the status of the meeting was of an unfinished meeting---Petition under S.160-A of the Companies Ordinance, 1984 will only be maintainable in the case of a concluded meeting---High Court held that after the conclusion of the impugned Annual General Meeting of the respondent company, the petitioners had two remedies, under Ss.160-A & 179, whereby they could challenge the legality of the Annual General Meeting as a whole or could challenge the election of the Directors---Petition under S.160-A of the Companies Ordinance, 1984 being premature, was dismissed, in circumstances. Lt. General (Retd.) Shah Rafi Alam and others v. Lahore Race Club and others 2004 CLD 373; Central Cotton Mills Limited and 2 others v. Naveed Textile Mills Limited and another 1996 MLD 1943; 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; Integrated Technologies and Systems Ltd. v. Interconnect Pakistan (Pvt.) Limited through Acting Chief Executive and others 2001 CLC 2019 and Syed Amir Hussain Shah v. Progressive Papers Ltd. and others PLD 1969 Lah. 615 ref. McLaren v. Thomson (Chancery Division) [1917 M. 479]…

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