Supreme Court Suspends High Court Judgment on Rectification of Share Register

Mohsin Tayebaly & Co. successfully represented a leading oil blending company (our “Client”) before the Supreme Court of Pakistan, obtaining a stay order/status quo against a High Court judgment that had directed the rectification of the Company’s register of members.

The dispute involved complex questions of corporate law under Section 126 of the Companies Act, 2017, specifically regarding the limitation period for challenging share transfers and the applicability of the doctrines of estoppel and acquiescence where a shareholder has voluntarily exited the company.

The Supreme Court, noting our Client’s grounds in appeal, was pleased to suspend the operation of the High Court’s decision, thereby preserving the management and shareholding structure of our Client pending the final decision.

The firm’s team was led by Mr. Arshad M. Tayebaly, Senior Partner, and included Mr. Sameer Tayebaly, Senior Associate and Ms. Nadia Mehek, Associate.