Appellate bench ruled against 167 SECP orders in five years

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ISLAMABAD: The appellate bench of the Securities Exchange Commission of Pakistan (SECP) has accepted 167 appeals in the last five years.

According to documents, five appeals were accepted in 2013-14, 43 in 2014-15, 35 in 2015-16, 49 in 2016-17 and 35 in 2017-18.

Among prominent names, the appellate bench accepted the appeals of Imran Aslam and Irfan Aslam from Shahzad Textile Mills Ltd, Nasreen Humayun Sheikh from Azgard Nine Ltd, Sadequl Islam from BRAC Pakistan, Muhammad Sarfaraz from Taha Spinning Mills, Shahabuddin A Siddique from Ali Asghar Textile Mills, and Nasir Ali from Gobis Paints.

Documents further stated that the bench had also rejected some 255 appeals in last five years, including 49 in 2013-14, 67 in 2014-15, 96 in 2015-16, 34 in 2016-17 and 9 in 2017-18.

The government had established the appellate bench to file appeals against the SECP orders.

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