Securities and Exchange Commission of Pakistan · Companies Act 2017, Section 286
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TO THE OFFICE OF THE SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NIC Building, 63 Jinnah Avenue Islamabad, Pakistan
COMPLAINT UNDER SECTION 286 OF THE COMPANIES ACT 2017
The undersigned, complainant_name, son/daughter of complainant_father, resident of complainant_address, holding CNIC No. complainant_cnic, hereby submits this complaint against the Company and its management under Section 286 of the Companies Act 2017.
1. COMPANY DETAILS: This complaint concerns company_name, a company incorporated under the Companies Act 2017 with Corporate Registration Number crn, having its registered office at company_address. The Company is engaged in company_business.
2. COMPLAINANT'S SHAREHOLDING: The Complainant is a member of the above Company holding number_of_shares ordinary shares of face value Rs. share_face_value/- each (total shareholding value: Rs. total_shareholding_value/- representing shareholding_percentage% of the issued capital). The Complainant has held these shares since shareholding_date and is a registered shareholder in the books of the Company.
PRAYER
3. BOARD OF DIRECTORS: The Company's Board of Directors comprises the following members: (a) director_one_name (Chairman/Director) (b) director_two_name (Director) (c) director_three_name (Director) (d) director_four_name (Company Secretary/Finance Officer)
4. NATURE OF COMPLAINT: The Complainant lodges this complaint against the Company and its Board of Directors based on acts of mismanagement, oppression, and breach of fiduciary duties. The specific grounds of complaint are as follows:
5. MISMANAGEMENT: mismanagement_details. This constitutes gross mismanagement and demonstrates incompetence or recklessness in the conduct of the Company's affairs.
6. OPPRESSION OF MINORITY SHAREHOLDERS: oppression_details. These actions constitute oppression of the Complainant as a minority shareholder and are prejudicial to the interests of the shareholder.
7. BREACH OF FIDUCIARY DUTIES: breach_of_duty_details. The Directors owe fiduciary duties to the Company and to all shareholders. These duties include duty of care, duty of loyalty, and duty to act honestly and in good faith. The acts described above constitute clear violations of these fiduciary duties.
8. FINANCIAL PREJUDICE: As a result of the above acts, the Complainant has suffered the following financial prejudice: (a) Diminution in the value of shares held: share_value_loss (b) Non-declaration or suspension of dividends: dividend_loss (c) Unauthorized related-party transactions: related_party_loss (d) Misappropriation of Company funds: misappropriation_amount (e) Total estimated loss: Rs. total_loss/- approximately
9. DOCUMENTS AND EVIDENCE: The Complainant has attached the following documents in support of this complaint: (a) document_one (dated document_one_date) (b) document_two (dated document_two_date) (c) document_three (dated document_three_date) (d) document_four (dated document_four_date) (e) document_five (dated document_five_date)
10. DEMAND FOR REMEDY: The Complainant requests that the Commission exercise its powers under Section 286 of the Companies Act 2017 and grant the following relief: (a) Investigate the allegations of mismanagement and oppression; (b) Direct the restoration or compensation for the loss suffered; (c) Remove or supersede the existing Board of Directors if deemed appropriate; (d) Impose penalties on the Directors for breach of their fiduciary duties; (e) Direct that future management is conducted in accordance with the Companies Act 2017.
11. VERIFICATION: The Complainant hereby certifies that the facts and allegations stated above are true and correct to the best of his knowledge and belief. The Complainant is aware of the legal consequences of making false statements to the Commission.
VERIFICATION
Verified on solemn affirmation at verification_place on this _____ day of _____, year, that the contents of the above are true and correct to the best of my knowledge and belief and nothing material has been concealed therefrom.
_____________________________ complainant_name Shareholder CNIC No. complainant_cnic Contact: complainant_phone Email: complainant_email Date: _______________ COUNSEL (if applicable): _____________________________ Name: counsel_name Roll No: counsel_rollno Bar Council: bar_council Date: _______________
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