LAHORE: The Lahore High Court has sought replies from the federal government and the Security Exchange Commission of Pakistan (SECP) by January 2022 in response to a petition challenging the appointment of SECP Chairman Amir Ali Khan.

Petitioner Asad Kharal through his counsel contended that the SECP consisted of five commissioners including the chairman. He said the respondent, Amir Khan, was appointed as the commissioner of SECP on December 7, 2018, without resigning from the post of executive director of SECP. He stated that the respondent tampered the record and tendered his resignation from his previous position in back date.

He said the Ministry of Finance was never intimated regarding resignation of the respondent. He also said that a person could not hold two positions governed under separate provisions of law. He further contended that the respondent was not qualified and did not have the requisite experience to be appointed as chairman. He alleged that the respondent retained his both positions for nine months till his appointment as the Chairman SECP.

The counsel, therefore, argued that the appointment of the respondent as chairman was in sheer violation of law and judgments of the Supreme Court. He, therefore, prayed the court to set aside the appointment of the respondent as Chairman SECP.

Copyright Business Recorder, 2021