Law: Securities and Exchange Commission of Pakistan Act, (XLII of 1997)

Section: 33

THIS ORDER PASSED BY: ZAFAR ABDULLAH, COMMISSIONER (SCD):---.--- 1. This order shall dispose of Appeal No. 42 of 2007 filed under section 33 of the Securities and Exchange Commission of Pakistan Act, 1997 against the order (the Impugned Order) dated 15/11/07 passed by the Respondent. The Appeal was fixed on 05/01/12 but the Appellant failed to appear through authorized representative. Thereafter two hearings dated 15/02/12 and 22/10/12 were adjourned on Appellant representatives request. The appeal was once again fixed on 02/01/15 but Appellant representative failed to make appearance before the Appellate Bench (the Bench). Finally, to meet the ends of justice appeal was re-fixed for final hearing opportunity and hearing notices were duly served on the registered office of the Appellant, Director of the Appellant, Counsel of the Appellant and Chartered Accountants of the Appellant. The hearing notice served on the director of the Appellant was returned due to change of office address, whereas the Riaz Ahmad and Company (the Chartered Accountants) informed the Appellant Bench that they have no concern with the affairs of the Appellant and they never rendered any…

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