Law: Securities and Exchange Ordinance, 1969

Section: 15A,15B

JUDGMENT Aamer Farooq, J.- This appeal under section 34 of Securities & Exchange Commission Act, 1997 is directed against order dated 16.01.2015 passed by respondent No.2. 2. The appellant was appointed as Official Liquidator of Corporate Business Management (Pvt.) Limited and in this behalf upon completion of all requisite formalities a final meeting of Members of the referred Company was held on 27.09.2008 wherein a unanimous resolution was passed and as a consequence thereof the liquidation proceedings were deemed to be completed with effect from 27.09.2008.The appellant thereafter filed requisite documents & forms with respondent No.1. The appellant was served with show cause notice wherein it was alleged that the appellant has violated sections 15-A and 15-B of Securities & Exchange Ordinance, 1969. The appellant filed reply to the show cause notice but vide order dated 10.09.2009 a demand has been raised against Corporate Business Management (Pvt.) Limited through the appellant. The appellant filed appeal against referred order which was fixed for hearing on 01.01.2015, however, no notice of hearing was given to the appellant and was adjourned to 16.01.2015. On…

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