Misrepresentation of Sections 492, 472 and 476 of the Company's annual audited accounts for the corresponding year revealed that the Company's accounts disclosed receivables against the settlement of short-term investments in the amount of $ 264 million. ? The proceeds from the sale of ordinary shares obtained from the authorized broker information of the company sought by the broker show that the proceeds of the sale of the shares were not transferred / transferred directly to the company by the broker. Instead the company's trading account was transferred from the company's executive account to the intact trading account in the name of the company executive, which called for supporting documents to confirm its position in connection with the sale and collection of shares, including bank vouchers. went. And broker ledger, but the company was not provided a request to record the transaction due to delay in receipt of written confirmation from the company as the company is regularly receiving the ledger / trading statement from the broker where all the relevant share brokers The sale and purchase were indicated with the balance receivable / payable by the company representative, during the hearing, after the testimony, the default was acknowledged and the company's soft behavior under section 492 of the Ordinance 1984 Was requested. Violations were made and company directors were responsible for penalties as described in the section above, however, since substantial interest from the loan was provided to the company by the directors, the chief executive and 7 directors as a whole. A fine of Rs 17,50,000 was imposed, in the circumstances \ r \ n \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2011
