Law: Companies Ordinance, 1984

Section: 161

(a) Companies Ordinance (XLVII of 1984)----S. 161(8)--Civil Procedure Code (V of 1908), O. I, R.10 --Impleading of parties--Necessary party--Dispute only between Directors inter se--No relief sought against Registrar Joint Stock Companies and assertions in petition not referring to any violation committed by him--Nothing available to show that without impleading Registrar, effective determination of claim in petition could not be sought--Registrar, held, was not necessary party. (b) Companies Ordinance (XLVII of 1984)-- ---S. 161(8)--Filing of application under S. 161(8)--Defect in power of attorney--Merely name of respondent incorrectly styled in power of attorney--Error only technical in nature--Defective authorisation, held, would not affect maintainability of petition the defect being curable.-­[Power of attorney]. Australasia Bank v. Abdul Aziz Jan and others P L D 1983 Pesh. 64 rel. (c) Companies Ordinance (XLVII of 1984)-- --S. 158(3)--Annual General Meeting--Time for despatching notice-­Provisions of section 158(3) mandatory--Calculation of time for sending notice discussed--Legislature specified terminus qua of notice from date of its sending and not from' date of its delivery or receipt. Atta Muhammad Qureshi v. The Settlement Commissioner, Lahore and others P L D 1971 S C 61 and Niaz Muhammad Khan v. Mian Fazal Raqib P L D 1974 S C 134 rel. (d) Companies Ordinance (XLVII of 1984)-- ---S. 230(7)--Articles of Association and Memorandum of Association, held, bind Company and Members whereby they are deemed to have covenanted to carry out rights and obligations in specified manner-­Petitioners Directors of Company are equally responsible to ensure necessary compliance with regard to furnishing copy of balance sheet and reports etc. to shareholders at least fourteen days prior to holding of annual general meeting--Failure to maintain proper account books or balance sheets etc. responsibility equally extended to all Directors within purview of S.230(7) of Ordinance--Unless any justifiable circumstances indicated or any prejudice shown to have been caused to petitioners, notice would not be deemed to suffer from any material defect--Account books available…

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