Law: Securities and Exchange Commission of Pakistan Act, (XLII of 1997)

Section: 34

Law: Companies Act, 2017

Section: 425(9)

Law: Qanun-e-Shahadat (10 of 1984)

Section: 117

Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997)-- ----S. 34--Companies Act, 2017 (XIX of 2017), S. 425(9)--Companies Ordinance, (XLVII of 1984), S. 439(9)--Business of cold storage--Application for dissolution of company--Name of company was struck of from register of company--Issuance of notice--No objection was filed by appellant--Writ petition for restoration of company’s name--Dismissed--Report of Assistant Registrar SECP--Report was not challenged--Once report was submitted before Hon’ble Lahore High Court and its copy given to appellant’s counsel, appellant decided to absent himself and not pursue matter any further before Hon’ble Lahore High Court--Order attained finality having not been challenged any further, appellant could not have re-agitated matter before S.E.C.P. under Section 425(9) of Companies Act, 2017--Appellant filed a petition before S.E.C.P. under Section 425(9) of Companies Act, 2017 seeking restoration of Coldage’s name on register of companies--If appellant feels that he was fraudulently removed from position of Chief Executive of Coldage and his shareholding had been reduced, he ought to pursue matter before Court of competent jurisdiction and not before S.E.C.P.--Fraud must be proved by producing unimpeachable and confidence inspiring evidence--Mere allegations could not partake proof of fraud under law--Appellant had left inquiry report unchallenged and lost interest in pursuing his petition before Hon’ble Lahore High Court--In absence of any decree from a Court of plenary jurisdiction to effect that Coldage owned land in your 2002 when it was dissolved, appellant was estopped from re-agitating matter before S.E.C.P. and that too almost thirteen years after his petition under Section 439(6) of 1984 Ordinance was dismissed by Hon’ble Lahore High Court.  PLD 1967 SC 153 ref. Qanun-e-Shahadat Order, 1984 (10 of 1984)-- ----Art. 117--Pleadings--Pleadings of parties are not evidence, and facts alleged in pleadings must be proved through evidence of a party which claims existence of such facts.[P. 169] F 2003 MLD 2005 ref. Maxim-- ----Seundumallegata et probata--Maxim secundum allegata et probata postulates…

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