960424

CLA orders

enquiry into

KSE member

business

ISLAMABAD: Corporate Law Authority has ordered an enquiry into the business and transaction of a member of Karachi Stock Exchange and appointed Chartered Accountant for the submission of enquiry report.

Following is the order issued by Corporate Law Authority:-

"In exercise of the powers conferred by section 21 of the Securities and Exchange Ordinance, 1969 (XVII of 1969) read with Finance Division Notification No. SRO. 1024(I)/81, dated the 10th September, 1981, I hereby appoint Abdul Wahid Partner of M/s. Mohammad Nasim & Company, Chartered Accountants, Karachi, to conduct an enquiry into the business and transaction in securities made by Zafar Moti, Member, Karachi Stock Exchange (Guarantee) Ltd., Karachi, which have affected Agha Arshad Mahmood, resident of House no. 351, Street 29, I-8/2, Islamabad.

Agha Arshad Mahmood shall pay the cost of enquiry to Abdul Wahid amounting to Rs. 20,000/ (Rupees twenty thousand only) before the proceedings are initiated.

The enquiry report shall be submitted by Abdul Wahid, Chartered Accountant, before 20th May, 1996.-APP