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

Section: 30,37

Law: Companies Ordinance, 1984

Section: 270,281

Law: Penal Code (XLV of 1860)

Section: 409,420,468,471,477-A

Law: Criminal Procedure Code (V of 1898)

Section: 265-K,439

Securities and Exchange Commission of Pakistan Act (XLII of 1997)--- ----Ss. 30, 37---Companies Ordinance (XLVII of 1984), Ss.270, 281---Penal Code (XLV of 1860), Ss. 409, 420, 468, 471, 477-A---Criminal Procedure Code (V of 1898), Ss. 265-K, 439---Criminal breach of trust, cheating, forgery, using forged document and inquiry into affairs of company---Acquittal, refusal of---Conclusion of trial---Accused was facing trial on the complaint filed by Securities and Exchange Commission of Pakistan---Validity---Held, it was after an investigation held in accordance with provisions of Companies Ordinance, 1984, that complaint was filed in Trial Court---In accordance with S. 270 of Companies Ordinance, 1984, if from an inspection report, it appeared to the Commission that any person, in relation to the company whose affairs had been investigated, was guilty of any offence for which he was criminally liable, the Commission could prosecute such person---In accordance with S. 281 of Companies Ordinance, 1984, any inquiry or investigation under S. 263 of Companies Ordinance, 1984 on application by members or report by Registrar and any consequential action taken was not to be affected by a petition of winding up submitted in Court---No ground existed entitling accused to acquittal under S. 265-K, Cr.P.C., allegation against him was that he had committed fraud, misappropriation and criminal breach of trust with the company in question in connection with purchase and re-purchase of a property, details of which allegations were contained in complaint filed by Securities and Exchange Commission of Pakistan---Allegations in complaint required evidence to be led before the same could be adjudicated upon---Held, further that it could not be said at the early stage that charge was groundless and there was no possibility of conviction---All prosecution witnesses had been examined in trial therefore, trial was to be concluded--- Revision was dismissed, in circumstances. Kazi Shehryar Iqbal for Applicants. Imran Ali Shamsi, Special Public Prosecutor, SECP and Syed Ebad-ur-Rehman for Respondent. Muhammad Ahmed, Assistant Attorney General. hearing date: 8th November, 2021. ORDER OMAR…

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