Sections 497 (2) of the Conduct Code (XLV of 1860), Sections 409, 420, 109, 34 and 477 of the Central Treasury Act (XIX of 1997), Section 24 Securities and Exchange Ordinance (XVII of 1969), Section 16 (c) ) Criminal infringement by banker, merchant or agent through trust, fraudulent and dishonest property transfer, utilities, general intent, account fraud, dealing with book entry securities without authority, guarantee and restriction of consumer securities , The allegation of further investigation against the accused [alleged director of the Securities Trading Company (brokerage house)] was that he was, unlawfully and illegally, a partner. Along with the defendants and various banks, it promised to share the shares of several complainant clients, to secure financial transactions with the banks. As a result of the default on the company and, and the company default, the banks sold the mortgaged shares, causing great harm to the complainant and other clients of the company prosecution claiming that the Central Depository Act of 1997 Under section 24, the stock broker was not authorized to mortgage the shares without the permission of the sub-account holder of any bank / financial institution and / or the stock exchange, and such restriction was imposed by it. The defendants' convictions in Section 16 (c) of the Securities and Exchange Ordinance, 1969, were that he was a salaried employee of the company and had worked as a general manager and had resigned from the company. Acknowledged that none of the witnesses, whose statements were listed under Section 161, CR PC, did not allege the personal interference of the accused in the entire transaction.
Related judgments — Karachi High Court Sindh, 2013
