| Citation(s) |
|---|
| 2025 SLG 5205 2025 SLD 5205 = 2025 SHC 3298 |
Sindh High Court
J. C. M. No. 38 of 2024
MUHAMMAD OSMAN ALI HADI J.
_____________________________________________________ Date Order with signature of Judge 1. For hearing of CMA No.2552/2024. 2. For hearing of CMA No.2553/2024. 3. For orders on CMA No.76/2025. 4. For hearing of main petition. 18.11.2025 Mr. Yahya Iqbal, Advocate for the Petitioners. M/s. Danish Nayyar and Ms. Javeria Ali, Advocates for the
Respondent No.2. Syed Hafiz Ebad, Advocate for SECP.
J. C. M. No. 38 of 2024
MUHAMMAD OSMAN ALI HADI J.
_____________________________________________________ Date Order with signature of Judge 1. For hearing of CMA No.2552/2024. 2. For hearing of CMA No.2553/2024. 3. For orders on CMA No.76/2025. 4. For hearing of main petition. 18.11.2025 Mr. Yahya Iqbal, Advocate for the Petitioners. M/s. Danish Nayyar and Ms. Javeria Ali, Advocates for the
Respondent No.2. Syed Hafiz Ebad, Advocate for SECP.
GRENLIT STUDIOS (PRIVATE) LIMITED AND OTHERS V/S SECP AND ANOTHER Sindh High Court, Karachi
Law: Companies Act, 2017
Section: 286,5
Summary:
The petition was filed under Section 286 of the Companies Act, 2017 by majority shareholders alleging oppression and mismanagement by a minority shareholder (former CEO). The petitioners claimed that the respondent withheld SECP portal passwords, preventing compliance filings. The Court found that:
Petitioners hold 82.5% shares, while the respondent had no management control.
Alleged grievances were inter se disputes and not true oppression or mismanagement under the Act.