| Citation(s) |
|---|
| 2026 SLG 1811 2026 SLD 1811 = 2026 CLD 444 |
Sindh High Court
Judicial Companies Miscellaneous No.24 of 2019, decided on 5th November, 2025.
Presented By: Before Adnan Iqbal Chaudhry, J
Ms. Fareeda Mangrio for Petitioner. Shahenshah Hussain, Muhammad Hanif Faisal Alam and Syed Arshad Ali for
Respondents Nos.1 and 2. Nemo for
Respondents Nos.3, 5 to 8.
Respondent No.4 in person. Saiyed Younus Saeed for
Respondent No.9.
Judicial Companies Miscellaneous No.24 of 2019, decided on 5th November, 2025.
Presented By: Before Adnan Iqbal Chaudhry, J
Ms. Fareeda Mangrio for Petitioner. Shahenshah Hussain, Muhammad Hanif Faisal Alam and Syed Arshad Ali for
Respondents Nos.1 and 2. Nemo for
Respondents Nos.3, 5 to 8.
Respondent No.4 in person. Saiyed Younus Saeed for
Respondent No.9.
Syed SAEED AHMED---Petitioner
VERSUS
Messrs MEHRAN OILS (PVT.) LTD. through Company Secretary and 8 others---Respondents
Law: Companies Act, 2017
Section: XIX,119,126,126(6),127
Companies Act (XIX of 2017)--- ----Ss. 119 & 126---Members Register---Rectification---Applicant / shareholder contented that upon death of his father, shares inherited by him were not transmitted by respondent / Company---Applicant sought rectification of Members Register regarding number of shares held by his deceased father---Validity---On the date when father of applicant passed away, his shares devolved on his legal heirs as per Islamic law---Even if respondent / company or its CEO disputed shareholding of late father of applicant, they could not have cancelled that shareholding without any order of Court under S. 152 of the Companies Ordinance, 1984 (now S. 126 of the Companies Act, 2017)---Changes made by respondent / company to the Members Register were fraudulent---High Court directed respondent / company to reverse / rectify changes in Members Register and share certificates while shares transferred to CEO were not in issue---High Court further directed respondent / company to transmit shares to legal heirs of deceased after rectification of Members Register---High Court in exercise of S. 126(2) of Companies Act, 2017 awarded cost of Rs. 500,000 (Rupees Five Hundred Thousand only) to the applicant, payable by respondent / company and CEO personally at the rate of Rs. 250,000 each--High Court issued caution to CEO of the Company and Company Secretary but refrained from making reference against them for adjudication of an offence under S. 127 of Companies Act, 2017---Application was allowed in circumstances. Bentonite Pakistan Ltd. v. Bankers Equity Ltd. 2023 SCMR 1353; Naila Naeem Younus v. Indus Services Ltd. 2022 SCMR 1171; Muhammad Ziaullah Khan Chishti v. TRG Pakistan Limited (JCM No. 12/2025) and B and T Ag v. Ministry of Defence 2023 SCC OnLine SC 657 ref. Dates of hearing: 13th March, 6th, 15th and 29th May, 2025. ORDER ADNAN IQBAL CHAUDHRY J.---This is an application under section 126 of the Companies Act, 2017 [Act] for rectification of members register maintained by Mehran Oil Mills (Pvt.) Ltd. [the Company - Respondent No.1] under section 119 of the Act. In addition, the Applicant is also aggrieved with delay in repayment of a loan…