Applicants / Bank's financial results apply to the Board of Directors' penalties under Sections 18 and 22 of the Securities and Exchange Commission of Pakistan Act (XLI of 1997), section 33, misrepresentation and denial or failure to submit documents, etc. Done for consideration For the relevant period, Appellant Bank acknowledged in its written response that its financial results were inadvertently kept by the Information Technology Department, while the meeting of the Board of Directors continued for a period of about ten minutes. And it did not include dividend and bonus share information. Appellant stated in its response that the financial results were available on the website for a period of two hours and thirty-one minutes. And that the financial results were communicated to the Board Stock Exchange after the conclusion of the Authority's meeting submission that on two occasions the Appellant had time to appoint and terminate sensitive pricing information on this website. Before the outbreak, the Karachi Stock Exchange was proportional. Financial results were sensitive information about prices and they had to be dealt with with extreme care. In the present case, financial results have led to market volatility and to investors. The authority has already taken a gentle stance by imposing a penalty That was it. In the absence of any kind to interfere with an unknown order, the appeal was dismissed only when the maximum fine could have been fifty million rupees, in violation of Section 18 of the Securities and Exchange Ordinance, 1969 \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2010
