Law: Companies Ordinance, 1984

Section: 246

Companies Ordinance (XLVII of 1984)--S. 246---Public listed company was required to file annual return in Form-A of the Third Schedule specified in S.156 of the Companies Ordinance, 1984 and prescribed additional information regarding pattern of shareholding and soft copy of list of Members (Annual Return) with Head Office of the Commission within the stipulated time limit---Company had not filed said annual return with the Commission for Annual General Meeting held in year 2011---Commission took cognizance of said default and issued notice calling upon the company to explain along with documentary evidence, as to why action could not be taken against it pursuant to S.246(2) of Companies Ordinance, 1984 for said contravention---Authorized Representative of the company stated that the annual return had been filed with the respective company Registration Office and pledged to furnish a copy of the acknowledgment receipt, issued by the Registrar to that effect---Authorized Representative, in circumstances, requested to drop the proceedings---Company had rightly claimed timely filing of annual return with the Commission---Plea of the company was accepted in circumstances. ORDER IMRAN INAYAT BUTT, DIRECTOR/HOD (MSCID).---This order will dispose of the proceedings initiated under section 246(2) of the Companies Ordinance, 1984 ("Ordinance") by the Securities and Exchange Commission of Pakistan ("Commission") through Show Cause Notice No.S.M(B.O.)C.O.156(713)96 dated 17-10-2011 ("Notice") issued to New Jubilee Life Insurance Company Limited ("Respondent"). 2. The facts of the matter leading up to aforesaid Notice are that it was observed from the record of this office that the respondent is a public listed company. Thus, pursuant to this office Notifications Number S.R.O. 763(I)/85 dated 7-8-1985 and S.R.O. 1014(I)/86 dated 12-11-1986 issued in exercise of the powers conferred by subsection (1) of section 246 of the Ordinance, Circular No. 4 of 1992 and Circular No.6 of 2001, the respondent was required to file annual return in Form-A of the Third Schedule specified in section 156 of the Ordinance, 1984 and the prescribed additional information regarding pattern of…

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