2019 PLP 1358 (CLD)
SINDH INDUSTRIAL TRADING ESTATES LIMITED — Appellant Versus JOINT REGISTRAR OF COMPANIES, CCD, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent
| Citation | 2019 PLP 1358 (CLD) |
| Forum / Court | Securities and Exchange Commission of Pakistan |
| Bench Members | N/A |
| Parties | SINDH INDUSTRIAL TRADING ESTATES LIMITED — Appellant Versus JOINT REGISTRAR OF COMPANIES, CCD, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — 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 1358 (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 1358 (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 1358 (CLD) (SINDH INDUSTRIAL TRADING ESTATES LIMITED — Appellant Versus JOINT REGISTRAR OF COMPANIES, CCD, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Mubasher Saeed, Registrar of Companies and Ms. Saila Jamshaid, Additional Joint Registrar of Companies for Respondent.
Headnotes / Summary
S. 33
Companies Ordinance (XLVII of 1984), S. 42
Power of Commission to dispense with word "Limited" in the name of charitable or other companies
Scope
Appellant assailed the decision of competent authority whereby its licence under S. 42(4), Companies Ordinance, 1984 was revoked
Appeal was filed after the expiry of thirty days limitation period provided under S. 33 of Securities and Exchange Commission of Pakistan Act, 1997
Application for condonation of delay, however, failed to provide any plausible reason of delay
Commission, (after hearing the matter) received appellant's request to withdraw the appeal
Appeal was dismissed as withdrawn.
Judgment & Decree
1. This Order is passed in Appeal No. 8 of 2019 filed under section 33 of the Securities and Exchange Commission of Pakistan Act, 1997 (SECP Act) against the Order/Letter dated 01/02/16 (Impugned Order/Letter) passed by the Joint Registrar of Companies, Corporatization and Compliance Department (Respondent).
2. The brief facts of the case are that the Respondent vide the Impugned Order/Letter conveyed the decision of the competent authority whereby Sindh Industrial Trading Estates Limited (Appellant) licence under section 42(4) of the Companies Ordinance, 1984 was revoked. The Appellant has preferred this Appeal after the expiry of thirty days limitation period provided under section 33 of the SECP Act, therefore, the Appeal was accompanied by an application for condonation of delay (the Application).
3. The Appellate Bench (the Bench) had asked the Appellant's counsel (the Counsel) to argue the Application because the Appeal has been filed with a delay of three years. The Counsel argued the Application, however, failed to provide any plausible reason of delay. After hearing, we have received Appellant's request vide a letter dated May 27, 2019, to withdraw the instant Appeal. In view of the above, we hereby dismiss this Appeal as withdrawn. SA/22/SEC Appeal dismissed.