ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) has issued a list of hundreds of companies, whose names would be struck off from the SECP records (register) and the companies will be considered as dissolved.
The SECP has issued notices (Advertisement and Notices issued by Corporate Bodies and Private Individuals) on the request of these companies.
According to the SECP’s notices, whereas, pursuant to the provisions of sub-section (1) of section 426 of the Companies Act, 2017 (the ‘Act”) read with Companies (Easy Exit) Regulations; 2014 (the “Regulations”), the specified companies have furnished applications to Securities & Exchange Commission of Pakistan for striking off their names from register of companies in terms of the aforesaid provisions of the Act and the Regulations.
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Now, the Chief Executive and directors of the named companies have furnished declarations to the effect that these companies have no assets and liabilities and are not carrying on any business and have no liabilities outstanding in relation to any loans obtained from banks, financial institution, taxes, utilities charges or any obligations towards any government department or private parties. The statements given in the declarations have been certified by the auditors/practicing chartered accountants.
Therefore, as required under sub-section (2) of Section 426, in terms of sub-section (3) of Section 425 of the Act, notice is hereby given that unless cause is shown to the contrary, the names of the aforementioned companies will, at the expiration of ninety (90) days from the date of this office (SECP) notice, be struck off the register kept in this office and the Companies will be “Dissolved,” the SECP added.
Copyright Business Recorder, 2025
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