| Citation(s) |
|---|
| 2025 SLG 5409 2025 SLD 5409 = 2025 LHC 7979 |
C.O No.6859 of 2025
PRESENT;(SHAHID KARIM) JUDGE
Dates of Hearing. 02-12-2025 & 03-12-2025 PETITIONERS BY: M/s Samar Masood Soofi, Ahmad Raza Mirza and Salman Hanif Rajput, Advocates. RESPONDENTS BY: M/s Adil Umar Bandial, Sajjad Ali and Taimoor Sultan, Advocates. Mr. Sikandar Bashir Mohmand, Advocate for respondents No.2 to 6. Mr. Ruman Bilal, Advocate for SECP.
Mian Waqar ud Din
VERSUS
United Industries Limited through its Chief Executive Officer & others
Law: Companies Act, 2017
Section: 286, 287, 288, 290, 397, 398, 399, 400
ORDER;
Shahid Karim, J:-. This petition under Sections 286, 287, 288, 290, 397, 398, 399 and 400 of the Companies Act, 2017 (“the Actâ€) raises a raft of issues. The prayer clause seeks a declaration from this Court that the respondents No.2 to 6 have acted in an unlawful and fraudulent manner and in a manner oppressive to its members. That a further declaration be issued that these respondents are guilty of misfeasance and breach of trust, in that, the affairs of the company have been conducted in a fraudulent manner. These prayers are based on the grounds stated in the petition which, in the estimation of the petitioner, should constrain and compel this Court to make the requested declarations.
Overview/ Background:
2. The background facts as narrated in the petition state that: