SECP revokes licenses of 13 companies for not filing accounts and annual returns

News Image

By MG News | August 07, 2019 at 05:34 PM GMT+05:00

0:00

August 7, 2019: The Securities & Exchange Commission of Pakistan in its drive against non-compliant companies, has revoked during the quarter ended on June 30, 2019, licenses of thirteen (13) not for profit companies, issued in pursuance of section 42 of the Companies Act, 2017.

The main reason for revocation of licenses of these companies is that they are non-compliant to the statutory requirements of the law i.e. filing of accounts and annual returns. Some of them were dormant since incorporation.

 Upon revocation of license, these companies have to follow the procedure for their winding up voluntarily and in case of having no assets and liabilities they shall apply for striking their names off the register of the companies in terms of section 43 of the Companies Act, 2017 read with the Associations with Charitable and Not for Profit Objects Regulations, 2018.

Related News

Name Price/Vol %Chg/NChg
KSE100 130,598.75
90.26M
0.20%
254.72
ALLSHR 81,223.88
231.07M
0.25%
199.89
KSE30 39,970.52
40.81M
0.16%
62.26
KMI30 190,101.65
52.28M
0.30%
566.64
KMIALLSHR 54,892.58
124.01M
0.20%
108.92
BKTi 34,859.16
7.98M
-0.23%
-81.57
OGTi 28,573.64
9.68M
0.98%
277.59
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,435.00 110,105.00
109,200.00
-850.00
-0.77%
BRENT CRUDE 68.62 69.00
68.41
-0.49
-0.71%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.99 67.50
66.78
-0.46
-0.68%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg