FUTURE VISION ADVERTISING (PRIVATE) LIMITED vs FEDERATION OF PAKISTAN Ss — 2024 CLD 890 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2024 CLD 890 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2024
Reporter: CLD
Parties: FUTURE VISION ADVERTISING (PRIVATE) LIMITED vs FEDERATION OF PAKISTAN Ss
Subject matter: Constitutional
Provisions referred to: S. 256; S. 257

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

FUTURE VISION ADVERTISING (PRIVATE) LIMITED VS FEDERATION OF PAKISTAN Ss. 256 (1) & 257 (1)---affairs of company---appointment of Inspectors---Jurisdiction---Petitioner / company assailed show cause notice issued by Commission regarding investigation of affairs of company on complaint filed by persons other than shareholders---Validity---Both in S. 256(1) and S. 257(1)(b) of Companies act, 2017, Commission was to form an opinion before appointment of Inspectors---Such opinion under S. 257(1)(b) of Companies act, 2017, was to be based upon circumstances suggesting various situations mentioned in clauses (i) to (vii) of S. 257(1)(b) of Companies act, 2017---Formation of opinion under S. 256(1) of Companies act, 2017, was not confined only to circumstances suggested in clauses (i) to (vii) of S. 257(1)(b) of Companies act, 2017, but Commission had much wide powers to appoint Inspectors if it was necessary to investigate into affairs of the Company---Provision of S. 257(1)(b) of Companies act, 2017, was a separate clause under which Commission had independent power to appoint Inspectors to investigate affairs of the Company if in its opinion there were circumstances suggesting the situation mentioned in subsections (i) to (vii) of S. 257(1)(b) of Companies act, 2017---High Court declined to interfere in appointment of Inspectors to investigate affairs of petitioner / company---Constitutional petition was dismissed, in circumstances.

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