Making false statement
Making false statement legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
Executive Director (Enforcement) of the Commission required the company to provide explanation with regard to the recognition of the sale in the accounts not pertaining to the relevant year, in violation of the company's policy
Information provided by the company had revealed that as a result of recognition of sales in contravention of the company's policy, the Profit and Loss Account of the company for the year under review, had been misstated
Show-cause notice under S.492 of the Companies Ordinance, 1984, was issued to the Directors of the company for making misstatement in the accounts
Executive Director (Enforcement) of the Commission, dissatisfied with the response of the Directors of the company, passed impugned order and imposed a penalty of Rs.500,000 on each Director of the company
Directors were further directed to rectify the misstatement and the default
Legislature in its own wisdom had provided penalty under S.492 of the Companies Ordinance, 1984 for making false statement in the financial statements/accounts; and it had been established that in fact a misstatement was made in the accounts
No reason existed to interfere with the findings of impugned order on merits
Directors of the company had made good the default in the next financial year and had complied with the requirements of law
Keeping in view, the compliance to the law and corrective measures, taken by the Directors, penalty imposed on the directors, was reduced to sum of Rs.2,50,000 on each director.
"Making false statement", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/124939565
Precedents & Case Laws citing "Making false statement"
1991 P Cr
FALAK SHER — Petitioner Versus ALAM SHER and 2 others — Respondents
Court: Lahore2010 C L D 66
Court: Securities and Exchange Commission of Pakistan
1986 P Cr
Mst. UBAIDA‑‑Petitioner Versus Makhdoom ABRAR AHMAD and 2 others‑‑Respondents
Court: Lahore1995 P L C 544
JANUARIO MUNES Versus SINDH LABOUR APPELLATE TIRBUNAL, KARACHI and 2 others
Court: Karachi High Court2013 C L D 103
GHULAM AHMED ADAM, CHIEF EXECUTIVE and 6 others — Appellants Versus EXECUTIVE DIRECTOR (ENFORCEMENT), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent
Court: Securities and Exchange Commission of Pakistan1993 P Cr
MUHAMMAD MANSHA — Petitioner Versus THE STATE — Respondent
Court: LahoreP L D 2001 Karachi 20
MUHAMMAD DAWOOD KHAN — Decree-Holder Versus ELYAS AMEEN and others — Judgment-Debtors
Court: High Court2013 C L D 287
Mian SHAHZAD ASLAM, CHIEF EXECUTIVE/DIRECTOR and 6 others — Appellants Versus COMMISSIONER (CLD), SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN — Respondent
Court: Securities and Exchange Commission of Pakistan1984 P L C (C
Syed AFZAL HUSSAIN RIZVI Versus SECRETARY TO GOVERNMENT OF PUNJAB,
Court: Service Tribunal Punjab1998 P Cr
Mian ABUZAR — Petitioner Versus NASEER AHMED BHATTI and others — Respondents
Court: Lahore