On 21-09-2023, the Lahore High Court, Rawalpindi Bench, was pleased to appoint Ch. Imran Hassan Ali, ASC, as amicus curiae in a winding up petition filed by the Additional Registrar of Companies against a company accused of engaging in multi-level marketing (“MLM”). The questions before the Court are: What is meant by MLM, which is not defined in the Companies Act, 2017, and whether the Securities and Exchange Commission of Pakistan (“SECP”) has gathered and presented enough evidence to substantiate the allegation of MLM and, therefore, a winding up order against the respondent company?
It is an honour for Imran. All praise is for Allah alone!