ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided to take penal action against defaulter companies, which have not benefited the amnesty schemes.
In this regard a list of almost 12,438 defaulters companies has been placed on SECP’s web site.
The SECP had launched companies regularisation scheme (CRS) and easy exit scheme (CEES) during the period from July to Dec 2010, and the companies were advised to regularise their defaults through filing of overdue returns under the CRS or strike their companies off the register under the CEES.
However, despite providing sufficient time and extensive awareness campaigns, it has been observed that a number of defaulter or defunct companies still exist on the companies register. Keeping this in view, the SECP is initiating a detailed action plan. In a First Phase of it a List of defaulter companies has been placed on the SECP website.
Defaulter companies are once again advised in their own interest to regularize their default other wise action under section 439 of the Companies Ordinance, 1984, shall be taken to strike off the defunct companies not carrying on business or not in operation, from the register of companies.
The Securities and Exchange Commission of Pakistan (SECP) has decided to take penal action against defaulter companies, which have not benefited the amnesty schemes.
Defaulter companies are once again advised in their own interest to regularize their default other wise action under section 439 of the Companies Ordinance, 1984, shall be taken to strike off the defunct companies not carrying on business or not in operation, from the register of companies.
A List of 12,438 defaulters companies has been placed on SECP’s web site.
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