2016 PLP 1399 (CLD)
RASHID ABDULLAH, CHAIRMAN, SEARLE PAKISTAN LIMITED and 8 others — Appellants Versus EXECUTIVE DIRECTOR (ENFORCEMENT), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent
| Citation | 2016 PLP 1399 (CLD) |
| Forum / Court | Securities and Exchange Commission of Pakistan |
| Bench Members | N/A |
| Parties | RASHID ABDULLAH, CHAIRMAN, SEARLE PAKISTAN LIMITED and 8 others — Appellants Versus EXECUTIVE DIRECTOR (ENFORCEMENT), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent |
| Primary Law | Companies Ordinance (XLVII of 1984) |
Q1: What are the key laws and sections cited in 2016 PLP 1399 (CLD)?
This judgment primarily cites: Companies Ordinance (XLVII of 1984) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2016 PLP 1399 (CLD)?
The case was heard and decided by the Securities and Exchange Commission of Pakistan bench comprising: N/A.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2016 PLP 1399 (CLD) (RASHID ABDULLAH, CHAIRMAN, SEARLE PAKISTAN LIMITED and 8 others — Appellants Versus EXECUTIVE DIRECTOR (ENFORCEMENT), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Nemo for Respondent.
Headnotes / Summary
S. 477
Revision before Appellate Bench of Commission was withdrawn to allow the parties to enter into settlement
Revision application was dismissed as withdrawn.
Judgment & Decree
1. This order is in Revision No. 40 of 2007 filed under section 477 of the Companies Ordinance, 1984 (the "Ordinance") against the order dated 24/09/07 (the "Impugned Order") passed by the Respondent. We have been provided letter/settlement dated 19/05/10 by the Enforcement department of the Securities and Exchange Commission of Pakistan (the "Commission") from Searle Pakistan Limited ("Appellant No.9"), wherein, it is stated in paragraph 2 that the Revision application titled Rashid Abdullah and others v. Executive Director (Enforcement), pending before the Appellate Bench of SECP has been withdrawn to allow a settlement to take place "...on the terms and conditions agreed by and between the parties but without prejudice to our legal rights in case of any future dispute..." In view of the above that the parties have agreed to settle the matter and the Revision application has been withdrawn in the subject matter, the revision application is dismissed. HBT/15/SEC Appeal dismissed.