Mian WAQAR UD DIN vs UNITED INDUSTRIES LIMITED Ss — 2026 PLD 226 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2026 PLD 226 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2026
Reporter: PLD
Parties: Mian WAQAR UD DIN vs UNITED INDUSTRIES LIMITED Ss
Provisions referred to: S. 2

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

Mian WAQAR UD DIN VS UNITED INDUSTRIES LIMITED Ss.2(66) & 204(8)---Breach of duty, default or negligence by adirector, ratification of---Procedure---Special resolution, holding of---Requirement---Any breach of duty, default or negligence by adirector in contravention of the articles of the company or any of its policy may be ratified by the company through a special resolution and the Commission may impose any restriction as may be specified---The requirements of special resolution have been spelt out in S.2(66)---A special resolution can only be passed by amajority of not less than three-fourths of such members of the company entitled to vote as are present in person or by proxy at ageneral meeting---The connotation is that past acts of default of adirector may be ratified by a company if it chooses to do so and by a special resolution only.

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