Haji MUHAMMAD SHAFIQ vs The REGISTRAR OF COMPANIES, COMPANY LAW DIVISION SECP Ss — 2022 CLD 1402 ISLAMABAD

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Haji MUHAMMAD SHAFIQ VS The REGISTRAR OF COMPANIES, COMPANY LAW DIVISION SECP Ss. 439(6)---Companies Act (XIX of 2017), S. 425(9)---Securities and Exchange Commission of Pakistan Act (XLII of 1997), S. 34---Appeal---Restoration of company's name---Registrar, jurisdiction of---Dispute was with regard to restoration of name of company in question---Validity---Right to file application under S. 439(6) of Companies Ordinance, 1984, before High Court for restoration of company's name on Register of Companies inhered in company or any member or creditor thereof---Member or a creditor of a company, under S. 425(9) of Companies Act, 2017, was not invested with right to invoke jurisdiction of Registrar or the Commission for restoration of company's name on the Register of Companies---No prohibition existed on any member or creditor for placing information or material before Registrar who could, after conducting such inquiries as he deemed fit, move the Commission to have name of the company restored to the Register of Companies---Inquiry in such regard had already been conducted on the question whether striking off name of the company from Register of Companies was done in accordance with law---Such was done pursuant to orders passed by High Court of other province---Inquiry report to such effect was submitted before that High Court and appellant left that inquiry report unchallenged and lost interest in pursuing his petition before that High Court---Essential grounds on which appellant sought restoration of name of the company on Register of Companies was that it owned assets at the time when it was dissolved pursuant to Company's Easy Exit Scheme---Same ground was taken by appellant earlier before High Court of other province---In absence of any decree from a Court of plenary jurisdiction to such effect company in question owned land when it was dissolved, appellant was estopped from re-agitating same matter before Securities and Exchange Commission of Pakistan and that too almost thirteen years after dismissal of his earlier petition under S. 439(6) of Companies Ordinance, 1984 Ordinance which was earlier dismissed by High Court---Appeal was dismissed, in circumstances.

Haji MUHAMMAD SHAFIQ vs The REGISTRAR OF COMPANIES, COMPANY LAW DIVISION SECP Ss — 2022 CLD 1402 ISLAMABAD

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