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SALMAN SERVICES (PVT.) LTD. versus EXECUTIVE DIRECTOR (SECURITIES MARKET) SEC, ISLAMABAD

IIIrd Schedule, Clause, AL, A2 and A5 Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 33 Securities and Exchange Rules, 1971, R8, in its complaint, appellant / complainant was charged with fines. That they have been deceived. The complainant prayed for a refund of the money paid to the company for the purchase of the shares through a false paper transaction by the company while there was no real trade in his account, the executive director appealed after the hearing. The Complainant / Complainant accepted the request and, in compliance with the Commissioner's order directing the Stock Exchange to issue an amount of Rs 404,000 to the appellant which the company had submitted with him, in addition to that of the Rules Executive Director. The company was also fined for the violation. With the binding of the Executive Director, both sides preferred the appeals presented on the records and inquiries made by the Securities Market Division. Seven had clearly proved that the company had failed to meet the legal requirements set forth under Securities and Exchange Rules, 1971 and Broker and Agent Regulation Rules 2001 and, consequently, was harming its investors, The company failed to present the proper documentation that failed to clarify or support the transaction. Repeated opportunities provided by the Executive Director Fine were properly imposed on the Company and a full audit of the Company was also rightly ordered by the Executive Director Appellant / Complainant, however, it failed to be convinced. Was that the appellant's main charge against him was restitution family advocate from Nilam lawyer