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Defaulter Companies List Sector Wise



21 replies to this topic

#19
Research Doctor

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    Part-4
    Current list of suspended companies with date and cause of suspension .


    S. No.

    Name of Suspended Company / Security

    Effective Date of Suspension

    Reasons for Suspension

    44

    Extraction (Pakistan) Limited

    August 16, 2010

    Directive received from SECP. Mr. Abid Tirmizi has been appointed as Official Liquidator.

    45

    Medi Glass Limited

    August 16, 2010

    Directive received from SECP. Mr. Adil Nisar Khan appointed as Official Liquidator.

    46

    Mineral Grinding Mills Limited

    August 16, 2010

    Directive received from SECP. On December 31, 2003 an order was passed by the Commissioner (CLD) to initiate winding-up proceedings against the company as the company has not held its AGMs since 1999 and has also suspended its business for more than four years. The Honourable High Court of Sindh has appointed Official Liquidator to sell out the asset of the Company.

    47

    Abson Industries Limited

    August 16, 2010

    Directive received from SECP. Liquidator appointed on 30-5-2000.

    48

    Saif Nadeem Kawasaki Motors Limited

    August 16, 2010

    Directive received from SECP. Winding up petition u/s 305 and 309 was filed in 2003 and is pending for adjudication in the Peshawar High Court Bench, at Abbotabad.

    49

    Prudential Stocks Fund Limited

    August 16, 2010

    Directive received from SECP. An order for winding up of the company was issued on May 20, 2008. Winding up order was challenged by the company, petition pending in Court for decision.

    50

    Quality Steel Works Limited

    August 16, 2010

    Directive received from SECP. Beside imposing penalty of around 3 million, under Section 158, 171 and 245, Winding up Order has also been passed by the Commission and petition for winding up the Company is filed in the Sindh High Court.

    51

    English Leasing Limited

    August 16, 2010

    Directive received from SECP. Winding-up Petition filed in May 2008.

    52

    Sunshine Cotton Mills Limited

    August 16, 2010

    Directive received from SECP. The company filed winding up petition in the Lahore High Court which is pending for further proceedings.

    53

    Sadoon Textile Industries Limited

    August 16, 2010

    Directive received from SECP. Under winding up, Petition filed.

    54

    Hakkim Textile Mills Limited

    August 16, 2010

    Directive received from SECP. Winding up petition filed.

    55

    Suraj Ghee Industries Limited

    August 16, 2010

    Directive received from SECP. GCP filed a creditors liquidation petition (C.O. No.121/94) in the Lahore High Court. The liquidation proceedings are under process.

    56

    Hallmark Insurance Company Ltd.

    August 16, 2010

    Directive received from SECP.

    57

    Prudential Discount & Guarantee House Limited

    August 16, 2010

    Directive received from SECP. Winding up Petition was filed in 2002. Presently the winding up petition of the company is pending adjudication before the Honorable Islamabad High Court.



    #20
    Research Doctor

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    Part-5
    Current list of suspended companies with date and cause of suspension .



    S. No.

    Name of Suspended Company / Security

    Effective Date of Suspension

    Reasons for Suspension

    58

    Pakistan Guarantee Insurance Company Ltd.

    March 16, 2010

    Directive received from SECP. SECP had initiated winding-up proceedings against the company in the court of law on account of non-compliance of various provisions of the Insurance Ordinance, 2000 and the Companies Ordinance, 1984.

    59

    Azgard Nine (Preference Shares)

    November 20, 2009

    On account of consolidation / clubbing and conversion of cumulative preference shares into ordinary shares.

    60

    Usman Textile Mills Limited

    November 17, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    61

    First Investec Modaraba

    November 17, 2009

    On account of revocation of CDS eligibility of the Certificates of the Modaraba by the CDC.

    62

    Investec Securities Limited

    November 17, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    63

    Al-Mal Securities & Services Limited

    November 17, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    64

    Investec Mutual Fund Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the certificates of the Fund by the CDC.

    65

    Dominion Stock Fund Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the certificates of the Fund by the CDC.

    66

    Nazir Cotton Mills Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    67

    Nina Industries Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    68

    Dadabhoy Sack Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    69

    Pakistan Industrial & Commercial Leasing Limited

    October 26, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    70

    Noor Silk Mills Limited

    August 11, 2009

    Directive received from SECP. SECP during the inspection noted the serious observations / irregularities / violations of law by Company including fraud committed by Director, concealment of company's income, non maintenance of proper books of accounts, non compliance with the directions of SECP etc. Therefore SECP in process of initiating winding-up proceedings against the company.

    71

    Zeal Pak Cement Factory Limited

    July 13, 2009

    Restriction on movement of shares by the Honourable High Court of Sindh.

    72

    National Asset Leasing Corp Limited

    March 24, 2009

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.


    #21
    Research Doctor

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    Part-6 (Last)
    Current list of suspended companies with date and cause of suspension .


    S. No.

    Name of Suspended Company / Security

    Effective Date of Suspension

    Reasons for Suspension

    73

    Progressive Insurance Company Limited

    January 30, 2009

    Directive received from SECP. The company is non-compliant with various provisions of Insurance Ordinance, 2000.

    74

    Prudential Investment Bank Limited

    September 5, 2008

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    75

    Adil Textile Mills Limited

    March 31, 2008

    On account of revocation of CDS eligibility of the ordinary shares of the company by the CDC.

    76

    Business & Industrial Insurance

    March 5, 2008

    Directive received from SECP. The company has failed to comply with various provisions of the Insurance Ordinance, 2000 and the Companies Ordinance, 1984.

    77

    Beema Pakistan Company Limited

    May 3, 2007

    Directive received from SECP. The company had issued further share capital amounting to Rs.425.897 other than right issue without prior approval of SECP, which is violation of Section 86(1) of the Companies Ordinance, 1984 and the requirements of Rule 8 of the Capital Issue Rules, 1996 (condition i & iv) were also not complied with.

    78

    Caravan East Fabrics Limited

    September 15, 2006

    On account of Members' voluntary winding-up of the company.

    79

    Regal Ceramics Limited

    July 18, 2005

    Committed various defaults including Winding up through Court order on petition filed by the SECP.

    80

    Azmat Textile Mills Limited

    July 18, 2005

    Committed various defaults including Winding up through Court order on petition filed by the SECP.

    81

    Kaiser Arts and Kraft Limited

    July 18, 2005

    Committed various defaults including Winding up through Court order on petition filed by the SECP.

    82

    Schon Textiles Limited

    May 9, 2005

    On account of liquidation of the Company through Court Order

    83

    Cass Pak Industries Limited

    July 23, 2002

    Committed various defaults including gone into liquidation

    84

    Pan Islamic Steamship Company Limited

    July 23, 2002

    Committed various defaults including gone into liquidation

    85

    National Fibers Limited

    August 13, 2001

    On account of liquidation of the Company through Court Order

    86

    Standard Insurance Company Limited

    July 16, 2001

    Committed various defaults under Listing Regulation No.30

    87

    Ayaz Textile Mills Limited

    July 16, 2001

    Committed various defaults under Listing Regulation No.30

    88

    Mohib Exports Limited

    July 16, 2001

    Having gone into liquidation and committed various defaults under Listing Regulation No.30

    89

    Karim Cotton Mills Limited

    October 2, 2000

    Directive received from SECP


    #22
    Mansoor

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    +3 DR sb for the helpful update.
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