2019 PLP 1240 (CLD)
SAQIB RAZA, DIRECTOR NIMIR INDUSTRIAL CHEMICAL LIMITED — Appellant Versus DEPUTY DIRECTOR (CSD), SECP, ISLAMABAD — Respondent
| Citation | 2019 PLP 1240 (CLD) |
| Forum / Court | Securities and Exchange Commission of Pakistan |
| Bench Members | N/A |
| Parties | SAQIB RAZA, DIRECTOR NIMIR INDUSTRIAL CHEMICAL LIMITED — Appellant Versus DEPUTY DIRECTOR (CSD), SECP, ISLAMABAD — Respondent |
| Primary Law | Securities and Exchange Commission of Pakistan Act (XLII of 1997) |
Q1: What are the key laws and sections cited in 2019 PLP 1240 (CLD)?
This judgment primarily cites: Securities and Exchange Commission of Pakistan Act (XLII of 1997) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2019 PLP 1240 (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: 2019 PLP 1240 (CLD) (SAQIB RAZA, DIRECTOR NIMIR INDUSTRIAL CHEMICAL LIMITED — Appellant Versus DEPUTY DIRECTOR (CSD), SECP, ISLAMABAD — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Tariq Ahmed, Additional Director (CSD) and Haris Bin Mohsin, Deputy Director (CSD) for Respondent.
Headnotes / Summary
S. 33
Appellant, on the date of hearing, neither appeared nor any request for adjournment was recieved
Appellant, later on, informed the Registry on phone call that he was not interested to pursue the appeal and requested to allow its withdrawal
Appellant had reiterated his request via email and letter
Appeal was dismissed as withdrawn.
Judgment & Decree
1. This order shall dispose of Appeal filed by Mr. Saqib Raza (Appellant) under section 33 of the SECP Act, 1997 against a letter dated 11/12/17 (Impugned Letter) whereby, he was informed by the Deputy Director-CSD (the Respondent) that his petition under section 257(1)(b) of the Companies Act, 2017 for appointment of inspectors, to investigate the affairs of Nimir Industrial Chemical Limited (the Company) has been rejected.
2. Earlier, Appellate Bench Registry (the Registry) vide its letter dated January 16, 2018 denied the registration of Appeal. However, vide a letter dated January 20, 2018 the Appellant's Counsel (the Counsel) requested to place the matter before the Appellate Bench (the Bench). The Registry apprised the Counsel vide a letter dated January 30, 2018 that the matter shall be fixed before the Bench for preliminary hearing on maintainability of appeal.
3. Thereafter, the Appellant filed a Writ Petition No. 3556/2018 before the Islamabad High Court, Islamabad (the Court) to issue direction to the Bench for expeditious disposal of the appeal. The Court vide its order dated December 18, 2018 directed the Bench to decide the pending Appeal expeditiously preferably within 90-days from the date of the order. In compliance thereof, the Appeal was fixed for February 25, 2019 however, neither the Appellant appeared nor any request for adjournment was received. The Appeal was re-fixed for March 11, 2019 however, the Appellant informed the Registry on phone call that he is not interested to pursue the Appeal and requested to allow the withdrawal of Appeal. The Appellant reiterated his request via email and letter dated March 12, 2019. In view of the aforementioned facts, we hereby dismiss this appeal, as withdrawn. Parties to bear their own cost. SA/5/SEC Appeal dismissed.