Law:

Section:

Companies Ordinance (XLVH of 1984)-------S.183---Specific Relief, Act (I of 1877), S.42---Civil Procedure Code (V of 1908), O.XXXIX, Rr.l & 2---Ad-interim injunction, recalling of---Rival factions of Company holding separate meetings for election of Directors--­Meeting proposed to be conducted by petitioners was postponed by Managing Director to take place at future date so that certain pre-conditions were duly fulfilled---Petitioners, however, took part in meeting called by them on 1-9-1994 and elected Directors---Meeting adjourned by Managing Director took place on 13-10-1994 and in that meeting petitioners also took part and did not object to holding of such meeting---Petitioners were signatory of minutes of that meeting wherein decision to hold election of Directors on specified date was taken--­Petitioners did not object to minutes of meeting or decision of holding election for Directors---Petitioners thus, had no locus standi to challenge election of Directors or seeking ad-interim injunction against functioning of newly elected Directors---Managing Director was empowered to postpone/adjourn meeting--­Petitioners having participated in adjourned meeting and having raised no objection against holding of such meeting or agenda discussed therein, could not challenge the same subsequently---Neither balance of convenience was in favour of petitioners nor they were likely to suffer irreparable loss--­Respondents were, however, likely to suffer irreparable loss if ad interim injunction was granted---Ad-interim injunction granted earlier was recalled in circumstances. Administration of Company Meeting by G. Nizamuddin; R.K. Agarwal's Company Board Meeting (Law and Practice); Shackleton on the Law and Practice of Meetings Ian Shearman; Company Secretarial Practice by Abu Obaida Siddiqui; Company Secretarial Practice by Q.A. Wadud; Salisbury Gold Mining Company Ltd. v. Hathorn and others AC 1897 p. 268; Reports of Company Cases Vo.42, 1972; Shafiq Ahmed v. Mirza Muhammad Anwar Beg PLD 1968 Lah. 367; Sh. Maqbool Elahi and 2 others v. Khan Abdul Rahman Khan and 6 others PLD 1958 (W.P.) Lah. 721; Index Companies Ordinance, 1984 compiled by M. Aslam; Company Law by…

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