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Bela Automotives Limited’s reference: direction under 170 of the companies ordinance, 1984, annual general meeting for the year ended 30th June 2011

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Karachi: 1. Abdul Mateen Allahwala, Bela Automotives Limited (BELA) would like to draw your kind attention to the provision of Section of 170 of the Companies Ordinance, 1984 and request you to kindly issue a direction for holding the annual general meeting of the company.

The brief facts for not holding the annual general meeting are, as under:

a: The AGM for the year 2011 is being delayed due to unavoidable circumstances as we are stuck up in HBL case proceedings and fraudulent and illegal debits of massive amounts in our accounts spanning a period of 25 years (Details of which were provided to you in our earlier letters, along with copies of documents) and Settlement of HBL Finance Accountants, Negotiation with HBL regarding final settlement, which is under process.

b. Besides the above the law and order situation including closure of factories for these very reasons a matter of public record. This was not conducive to normal working.

That an application for the extension in holding annual general meeting of the company was applied to the Securities and Exchange Commission of’ Pakistan, Islamabad which was not acceded to without.

That the, company is left with no other option but to apply for a direction under section 170 of the Companies Ordinance, 1984 for issuing direction in this behalf.

Under the circumstances stated above, we request your sympathetic consideration.

You are requested to please issue the necessary direction be issued urgently for holding the annual meeting company permitting the company to hold, its annual general meeting by February 28th 2012.

For more information, contact:
Abdul Mateen
Chief Executive
Bela Automotives Limited
1 and 3 Mouza Pathra,
Hub Chowki, Baluchistan
For Sales and Marketing: 0300-2394475
For Finance and Admin: 0333-2215587
E-mails: Sales and Marketing: farooq.bela@gmail.com
Dir: belaautomotives@gmail.com
CEO: belaautomotive@gmail.com

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