Formal Settlement has been reached between our Client and Private Limited Company. By way of background, our Client was one of the employee as well as Director and shareholder (5%) in the Company . However, due to some reasons our Client’s employment was terminated, and then despite being one of the shareholders and Directors, our Client was not being provided with any information in relation to the Books of Accounts nor the Company and other Directors are purchasing the shareholding of our Client at the ‘fair market value’ nor were allowing our Client to take part in the affairs of the Company.
Nonetheless, JA Legal was engaged to pursue the matter before the Securities and Exchange Commission of Pakistan (‘SECP’) and High Court of Sindh (Karachi) and considering the strong case on merits our firm compel the company and its Directors to enter into a Formal Settlement.
