ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) has successfully recovered Rs26 million in penalties during the financial year 2024-25, accounting for 30% of the fines imposed during the period.
Efforts to recover outstanding penalties are still in progress, with the SECP actively communicating with defaulter companies and leveraging legal avenues such as the Land-Revenue Department and respective High Courts, according to a press release issued today.
This recovery excludes Rs334 million in penalties imposed on four unlisted companies involved in illegal deposit-taking activities, with recovery proceedings already initiated through the Prosecution and Civil Litigation Departmentof SECP. The total amount of penalties imposed stands at Rs425 million.
Under Section 42B of the Securities and Exchange Commission of Pakistan Act, 1997, SECP is empowered to recover penalties as a decree for payment of money. High Courts can execute these decrees and take actions like attaching the company’s movable or immovable properties, including bank accounts.
In cases where companies have not responded to multiple reminders, SECP has moved forward with recovery proceedings through its Litigation Department. The SECP remains committed to protecting stakeholder interests and reinforcing compliance within the corporate sector.
