Syed SAEED AHMED vs MEHRAN OILS (PVT — 2026 CLD 444 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2026 CLD 444 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2026
Reporter: CLD
Parties: Syed SAEED AHMED vs MEHRAN OILS (PVT
Provisions referred to: S. 152; S. 126; S. 127; Companies Ordinance; 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

Syed SAEED AHMED VS MEHRAN OILS (PVT.) LTD. Ss. 119 & 126---Members Register---Rectification---Applicant / shareholder contented that upon death of his father, shares inherited by him were not transmitted by respondent / Company---Applicant sought rectification of Members Register regarding number of shares held by his deceased father---Validity---On the date when father of applicant passed away, his shares devolved on his legal heirs as per Islamic law---Even if respondent / company or its CEO disputed shareholding of late father of applicant, they could not have cancelled that shareholding without any order of Court under S. 152 of the Companies Ordinance, 1984 (now S. 126 of the Companies Act, 2017)---Changes made by respondent / company to the Members Register were fraudulent---High Court directed respondent / company to reverse / rectify changes in Members Register and share certificates while shares transferred to CEO were not in issue---High Court further directed respondent / company to transmit shares to legal heirs of deceased after rectification of Members Register---High Court in exercise of S. 126(2) of Companies Act, 2017 awarded cost of Rs. 500,000 (Rupees Five Hundred Thousand only) to the applicant, payable by respondent / company and CEO personally at the rate of Rs. 250,000 each---High Court issued caution to CEO of the Company and Company Secretary but refrained from making reference against them for adjudication of an offence under S. 127 of Companies Act, 2017---Application was allowed in circumstances.

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