SHER ASFANDYAR KHAN vs NEELOFAR SHAH Ss — 2025 SCMR 1307 SUPREME-COURT

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SHER ASFANDYAR KHAN VS NEELOFAR SHAH Ss. 7, 9, 148, 290 & 291---Qanun-e-Shahadat (10 of 1984), Art. 76---Corporate affairs---Oppression and mismanagement---Proof---Summary proceedings---Secondary evidence---Non-seeking of permission---Effect---Proceedings under Sections 290 and 291 of Companies Ordinance, 1984 were initiated against respondents for inquiry into mismanagement and oppression in corporate affairs---Company Judge allowed the petition and Division Bench of High Court dismissed the appeal---Objection was raised by appellant on admissibility of secondary evidence---Validity---Issues arising in the present case had brought into sharp focus the fundamental role of corporate governance in ensuring that companies act with transparency, fairness, and accountability---Protection of shareholder rights, obligation of disclosure, and adherence to ethical governance practices were not optional aspirations; they were indispensable pillars upon which trust in corporate structures was built---It was by steadfast commitment to such principles that corporations earn legitimacy, foster sustainable growth, and contribute to economic and social well-being of wider community---Corporate governance was, in its essence, a framework designed not merely to direct corporate conduct but to safeguard interests of all stakeholders through structured, principled oversight---Supreme Court accordingly reaffirmed that transparency, good faith disclosure, and protection of shareholders must remain at the heart of all corporate endeavors, for it was only through such adherence that confidence in corporate sector and by extension, in rule of law itself, could be maintained and strengthened---Supreme Court declined to interfere in concurrent findings of facts by two Courts below---Appeal was dismissed.

SHER ASFANDYAR KHAN vs NEELOFAR SHAH Ss — 2025 SCMR 1307 SUPREME-COURT

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