Law: Companies Ordinance, 1984

Section: 301

Law: Sindh Building Control Ordinance (XVII of 1979)

Section: 21A(3)

Interpretation of statutes--- ----Construction of directory provisions---Publication of statute in official Gazette---Non-compliance of directory provision regarding publication of statute in official Gazette---Scope and effect---Provisions of a statute regarding publication or notification of the same in official Gazette were generally to be regarded as directory and their strict non-compliance did not entail consequences---Legal certainty required that ordinary a statutory instrument was not to be treated as invalid because of failure on part of public functionaries to publish the same in official Gazette. Sohail Ahmed and 7 others v. Province of Sindh and 2 others 2017 PLC (CS) 1510 and Saghir Ahmed v. Province of Punjab PLD 2004 SC 261 rel. THIS ORDER PASSED BY: MUHAMMAD JUNAID GHAFFAR, J.--- This is a Suit for Declaration, Mandatory and Permanent Injunction and the Plaintiff has impugned the placement of the Plaintiff name on Defaulters Segment of Pakistan Stock Exchange and suspension of trading with effect from 11.12.2017 through Notices dated 08.12.2017 and 08.02.2018. Through listed application the Plaintiff seeks suspension of these two impugned Notices. 2. Learned Counsel for the Plaintiff submits that the two notices were issued without any cause or justification, and so also without any lawful authority. He submits that merely a winding-up petition is pending in this Court against the Plaintiff Company and this is no cause to suspend trading or even put the Plaintiff's share in defaulters segment. He further submits that the Notice dated 08.12.2017 has been issued in terms of Regulations of Pakistan Stock Exchange which at the relevant time were not gazetted and in view of the provision of Section 34(3) proceedings cannot take place until such regulations are properly gazetted. He further submits that no prior notice was issued whereas; it is settled law that before taking any such adverse action a proper opportunity should have been provided. According to the learned Counsel, under the old regulations there was a provision that appropriate remedial measures could be adopted by the Plaintiff before any such adverse action is taken, therefore, both…

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