ABDUL SAEED vs Mrs — 2024 CLD 611 ISLAMABAD

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ABDUL SAEED VS Mrs. NASEEM KHATTAK HUMAYUN Ss. 5, 80 & 126---Specific Relief act (I of 1877), S. 12---Civil Procedure Code (V of 1908), O.VII, R.10---Suit for specific performance of agreement to sell---Return of plaint---Suit filed by appellant / plaintiff was with regard to agreement for sale of shares---Trial Court returned the suit on the ground of lack of jurisdiction under S. 5 of Companies act, 2017---Validity---Provision of S. 126 of Companies act, 2017, only pertains to rectification for any fraudulent entry or omission of name of any person in the register of members or if default or unnecessary delay is made in entering the fact of a person having become or ceasing to be a member thereof---No allegation was made in the suit to be covered under S.126 of Companies act, 2017---Civil Court's jurisdiction is ousted only in respect of suits or proceedings which involved a matter which the Court under S.5 of Companies act, 2017, is empowered to determine---Controversy between the parties involved dispute regarding agreement for sale of shares by respondents / defendants appellant / plaintiff due to which appellant / plaintiff was seeking specific performance of subject agreement---There is no provision in Companies act, 2017, which can empower Company Court to exercise jurisdiction in respect of disputes between parties to a share purchase agreement---Jurisdiction of Civil Courts under S. 5 of Companies act, 2017, is not barred in respect of such disputes---Enforcement of a contract for sale/purchase of shares is covered under Specific Relief act, 1877---High Court set aside order passed by Trial Court and application filed by respondents / defendant were dismissed---High Court directed Trial Court to proceed with the suit in accordance with law---appeal was allowed, in circumstances.

ABDUL SAEED vs Mrs — 2024 CLD 611 ISLAMABAD

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