Law: Companies Ordinance, 1984

Section: 178(3)

  Companies Ordinance (XLVII of 1984)--- ----S. 178(3)---Election. of Directors---Procedure---Notice of intention to offer himself for election as a Director has to be filed with the company not later than fourteen days before the date of the meeting at which elections are to be held. Companies Ordinance (XLVII of 1984)--- ----S. 178(3)---"Not later than fourteen days before the date of the meeting at which elections were to be held"---Meaning---Date of election shall be excluded, while the date of receipt of nomination shall be included. M. Saleem v. Shaikh Abdul Latif PLD 1963 Dacca 477 and AIR 1924 Mad. 257 rel. Companies Ordinance (XLVII of 1984)--- ----Ss. 178 & 179---Election of Directors---Validity---Petitioner sent a notice of his intention to offer his representative for election as a Director and the same was received well within time---Name of the -representative of the petitioner was excluded from election on the ground that the company had not entered into any agreement with the petitioner to take any of its representatives as one of the constituents of elected Board of Directors---Number of the qualified candidates was equal to the number of Directors to be elected so no election was held-- Petitioner had less than 20 % of the shares---Restriction of S.179, Companies Ordinance, 1984, would not apply in the case---Meeting held for election being irregular and not in accordance with law as the members were prevented from using their right to vote effectively, proceedings relating to elections of Directors were invalid---Respondents were directed to hold afresh a general meeting for holding elections of members of the Board of Directors in accordance with law.   Bilal Hassan Minto for Petitioner. Irfan Ahmad Sheikh for Respondent. Date of hearing: 30th November, 1998 JUDGMENT National Investment Trust Limited (N.I.T.) holds 10% shares of the respondent's Company. By a letter, dated the 11th March, 1998, N.I.T. forwarded the nomination of its consultant, namely Mr. Wusooq Khaleeli, through the National Bank of Pakistan, Karachi, the Trust Department of petitioner, alongwith Form-28 and a letter of intention showing his…