Law: Securities and Exchange Ordinance, 1969

Section: 18

Securities and Exchange Ordinance (XVII of 1969)--S. 18-A---Submission of more than one applications for subscription of shares---List of cases of all applicants, who were detected to have filed applications in violation of S.18-A of Securities and Exchange Ordinance, 1969, was furnished to the Commission and applicant's name appeared in said list of multiple applicants---One application was submitted through one Bank and other application was submitted through the same bank at different city---Both applications were submitted using same N.I.C. number, but under different names, father's name and signatures---Applicant, in reply to written explanation, had stated that he had submitted only one application and had no knowledge of any other application submitted in his name---Commission called for a written explanation from other person whose name was mentioned in other application---Said other person appeared and admitted that he had tampered with the Photocopy of N.I.C. of original applicant and used same to file second application in his own name; he further stated that original applicant was innocent and was completely unaware about that act of his and that shares be allotted to said original applicant---Applications were established to have been submitted by two different persons using same N.I.C. number, but with different names, father's name, addresses and signatures---Original application submitted by applicant was genuine---Authority was advised that application submitted by applicant be accepted and shares be allotted against his name---Other person having admitted to have submitted a fictitious application using a tampered copy of N.I.C. of applicant, subscription money deposited against said fictitious application, was ordered to be confiscated under subsection (2) of S.18-A of Securities and Exchange Ordinance, 1969. ORDER JAHANARA SAJJAD AHMAD, JOINT DIRECTOR (SECURITIES MARKET DIVISION).---The matter arises from the Show-cause Notices No.SMD/Co.62/3/2004-S dated January 23, 2006 and January 26, 2006 issued by the Securities and Exchange Commission of Pakistan (the .Commission) to (i) Mr. Muhammad Bilal Khan, son of Saeed Ahmed Khan, N.I.C.…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492