Open AccessDoctrine of Just and Equitable Winding Up as Minority Shareholders’ Remedy in Pakistan
Author(s) -
Imtiaz Ahmed Khan,
Hafiz Abdul Rehman Saleem,
Hamid Mukhtar
Publication year - 2021
Publication title -
global legal studies review
Language(s) - English
Resource type - Journals
eISSN - 2708-2466
pISSN - 2708-2458
DOI - 10.31703/glsr.2021(vi-iii).01
Subject(s) - doctrine , shareholder , prejudice (legal term) , jurisdiction , law , political science , law and economics , business , sociology , finance , corporate governance
This article examines the doctrine of just and equitable winding as a minority shareholders' remedy in Pakistan. This is a residual remedy and developed with the passage of time for the protection of minority shareholders in the UK. The courts in the UK have established different views regarding circumstances in which remedy may be sought. In some cases, the court held that the jurisdiction of winding up is not different from unfair prejudice. Therefore, this article will further discuss the possibility of seeking remedy viz a viz other minority shareholders’ protection mechanism such as remedy against unfair prejudice.This article is based on qualitative research. The doctrinal and comparative research methods have been applied in the research. This article concludes that the remedy of winding up on just and equitable grounds may be effective only when the grounds for seeking remedy are wider than the unfair prejudice remedy