While every company has its industry-specific laws covering the business operations of that company, but all companies working in different industries are incorporated under the Companies Act 2017 (previously Companies Ordinance, 1984), under which the matters relating from the incorporation till winding-up of a company are covered, including provisions relating to the Shares, Board, Management, Accounts, etc., which are required to be duly understood by the key officials of a company including Directors to comply with the same in order to mitigate the penal and/or legal risk.
It has been observed that in case of Private Limited Companies, the shareholders, who in most of the cases are Directors also, many times don’t have the professional support to comply with the requirements of the Companies Act, 2017, due to which these companies and/or shareholders/directors face penal actions by SECP and/or get trapped into litigation.
Therefore after the successful launch of function-specific workshop, i.e. ‘Legal issues for CFOs & Senior Finance Professionals’ for 11 times, TerraBiz in collaboration with M/s. Abrar Hasan & Co.- Advocates & Legal Consultants is now launching the current workshop focusing the legal issues under the Companies Act 2017, especially for Private Limited Companies.