SECP warns public again against dealing with 3A Alliance

ISLAMABAD: Security and Exchange Commission of Pakistan (SECP) has warned to the public again against dealing with 3A Alliance and also clarified the fake news item published.

It has come to the notice of Securities and Exchange Commission of Pakistan (SECP) that a misleading news item regarding M/s 3A Alliance (Pvt.), said in statement issued by SECP here on Monday.

Limited appeared in a section of press, which said that the registration of the company has been reinstated and the company has been allowed to work in Balochistan.

It is clarified that the aforesaid news item is fake and winding up proceeding is in progress against the company.

A show cause notice under Section 301 read with Section 304 of the Companies Act, 2017 has been issued to the company necessary proceedings shall be decided in due course of time.

It is reiterated that the company is soliciting unauthorized deposits from the public as advances for purchase of motorcycles and offering huge profits there on on their deposits, through its franchise offices/ service centres in Quetta.

The general public is therefore, once again warned to be careful and not to be misled by any unlawful activity by the said company.