School of Law

Research Student: Rizwan Ahmad

Legal framework for the protection of minority shareholders in limited companies: Case study of Pakistan

Photo of Rizwan Ahmad

Concentrated ownership is perceived as an inefficient form of ownership because it is considered to aggravate the minority expropriation risks which results in the imbalance in the control and cash-flow rights of the controller. The present research study intends to contest the belief that concentration is an inefficient system of ownership. It contends that this simplistic belief is derived from not acknowledging the various forms of concentration but being influenced by one governing shareholder. To establish this argument, this thesis will undertake to enlist the different types of concentration in Pakistan which are guided by factors such as uniqueness and quantity of the controllers and understand its effect on the element of corporate governance. It is observed that the specific features of a shareholders profile often have an uncertain influence on the system of corporate governance.

For instance, families as shareholders are known for their diligent investments though are susceptible to claim personal profits on control; or in case of a various big shareholders that will advance the system of inner competition of control but is prone to minority expropriation due to shareholder agreements; or finally take the case of State as a shareholder who is not fully equipped to monitor at all times, however, they can be big players in driving effective practices of good corporate governance. It is therefore pointed out that the usefulness of the legal mechanism/ framework is the key to minimize the conflicts of corporate ownership systems in the corporate governance discourse. Therefore the aim of this study is to examine the concept of minority shareholder protection in Pakistan and to design the model for the reforms of Pakistani law to promote minority shareholder protection in Pakistani legal system. 


Currently I am PhD Researcher at University of Leeds. I hold following degrees:

  • LLM in Corporate and Financial law from University of Glasgow, United Kingdom.
  • MBA from University of Sunderland, United Kingdom.
  • Post-graduation in International Business Management from Staffordshire University, United Kingdom.

In December 2008 I was elected as Executive officer at Staffordshire University Students’ Union. In my role as an Executive Officer for Staffordshire University Students’ Union, I was responsible in leading and directing the student academic representation structures by drafting the administrative policies pertaining to the welfare issues and getting them in practice by implementing the same. Designed and carried out a research with surveys and focus group discussions as tools on local as well as international students that aided the feedback mechanism for the University as well as the Students’ Union. Closely associated with the University academic and nonacademic staffs to create a platform for addressing the issues of students; participated actively in the Academic Board, Diversity Committee, Multi-Faith chaplaincy, International Collaboration Sub-committee, and Quality Development Committee.


Member of the Students’ Union Executive Committee and trustee of Staffordshire University Students’ Union:                                                          
Ensured that the Students’ Union had a clear vision, mission and strategic direction and was focused on achieving these; ensured good performance of the Union: delivery of results and compliance with all legal and regulatory requirements.

Volunteer Project Coordinator for building International Harmony Society at Staffordshire University:                                                                                   
Worked with a core team of students to coordinate the entire project for formal elections in 2008; wrote up formal constitution, which was ratified by Staffordshire University.

Training, Workshops, Events, Meetings & Volunteer Activites

  • Ran workshop on International Student Experiences in UK at NUS Postgraduate Forum on National Issues at University of Bath, Bath spa, on 12 th February 2010.
  • Participate as Judge from NUS in British council Shine Awards, Yorkshire & the Humber regional Judging session at Yorkshire universities offices in Leeds on 23 rd February 2010.
  • NUS Postgraduate committee meeting and national post grad forum at university of Bath on 12-13 Feb 2010.
  • NUS workshop on  Postgraduate Engagement  Session and NUS PG committee meeting at  University of York,  Yorkshire, on 14 th Nov 2009.
  • NUS Postgraduate Committee meeting and Training at Keele University, Keele, Staffordshire on 12 th Sept 2009.
  • Quality matter for students at Coin Street Neighbourhood centre in London on 9 th September 2009.
  • Training at NUS for Town takeover at Queen Mary’s university London, 327 Mile End Road London, E1 4NS.
  • NUS Democracy & Governance Day (Student Media Reception) at Amnesty International, London, on 1st Sept 2009.
  • Training on Students’ Union Leadership for Trustees by Institute of Leadership & Management through De Montfort University Students’ Union, Leicester, UK, on 23-24 July 2009.
  • NUS (National Union of Students) training on Understanding and Supporting Liberation at DeMontfort University, Leicester, UK, on 17 th July 2009. 

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