SHOW-CAUSE NOTICES ISSUED TO THE 94 APPLICANTS UNDER SECTION 18A OF THE SECURITIES AND EXCHANGE ORDI versus STATE
Section 18 Disposal of Assumptions and Collection of Multiple Requests for Shares of Shares Multiple requests (multiple requests) by the same applicant were prohibited. And such requests / funds would be responsible for confiscation under Section 18A of the Securities and Exchange Ordinance, 1969, a preliminary examination of the applications submitted in this regard raised the suspicion that the bank-submitted Most of the applications are in violation of Section 18A of the Securities. Exchange Ordinance, 1969; It has been observed that applications made from one application were made and most of the said requests included bank account numbers which were mentioned in other applications. Applicants most of the signatures were different from the ones affixed to their respective CNICs, admitting that submitting requests to purchase shares with false details such as a false bank account number was a mistake, but because of the law Was illiterate. It is fully established in these circumstances that it was stated that the submission of the requests was made in a fake, collective and pre-arranged scheme, in violation of Section 18A of the Securities and Exchange Ordinance, 1969, some employees of the bank. Was created and implemented with the help of. , Its purchase was forfeited under section 18A (2) of the Securities and Exchange Ordinance, 1969. 69 r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2010
