Hafiz MUHAMMAD AMIR HUSSAIN vs SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Ss — 2025 CLD 1323 ISLAMABAD

Case information

Citation: 2025 CLD 1323 ISLAMABAD
Court: Islamabad High Court
Year: 2025
Reporter: CLD
Parties: Hafiz MUHAMMAD AMIR HUSSAIN vs SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Ss
Provisions referred to: S. 158; S. 147; Companies Act

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

Hafiz MUHAMMAD AMIR HUSSAIN VS SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Ss.147 & 158(2)---Constitution of Pakistan, Art. 199---Election of directors of a public listed company, holding of---Securities and Exchange Commission of Pakistan's duty to conduct elections---Inaction---Effect---Interference by the High Court under its Constitutional jurisdiction---Scope---Where statutory period of ninety days provided under S. 158(2) of the Companies Act, 2017 for holding elections has lapsed and SECP failed to exercise its powers under S. 147 of the Companies Act, 2017, such inaction of SECP to ensure compliance from a public listed company creates regulatory vacuum affecting shareholder rights and public interest alike, hence, warrants Constitutional intervention of the High Court despite availability of certain statutory remedies before the SECP.

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