I deposited 95 shares of Khyber Textile Mills Ltd for transfer in my name.
In reply the Khyber Textile Mills Ltd vide their letter No KTML/SH/2004 dated May 3rd, 2004, which I received recently have stated that out of 95 shares 53 shares have address of Dhaka so they have already been disposed of in favour of abandoned properties, government of Pakistan, therefore they cannot transfer these shares in my name.
The transfer deeds of these 53 shares, on which the transferer's address is given of Lahore and the signatures of the transferer is also verified on 16-4-1975.
Moreover out of 6 shares certificates, which the above said company is refusing to transfer the shares in my name one Share Certificate No 011130 of 8 shares issued on 1st October, 1971 is also showing the address of transferer of Lahore.
It shows clearly that in the company's books the address of the transferer has already been entered accordingly.
Hence there is no question of refusing the transfer of the above said shares in my name.
Moreover the said property cannot be treated as abandoned property as stated by the company.
I hope the Securities & Exchange Commission of Pakistan would take due notice and issue the necessary instructions to the Khyber Textile to transfer these shares in my name soon in the light of facts mentioned above.