
LAHORE: June 05 –


ISLAMABAD, Jun 05 (APP): The Islamabad High Court has upheld the decision of the Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) against the Shaukat Marwat Group of Companies (Private) Limited.
According to an SECP press release on Wednesday, its Appellate Bench had imposed penalties of Rs 50 million and Rs 10 million on Shaukat Marwat Group of Companies (Private) Limited and Shaukat Marwat Estates and Builders (Private) Limited respectively.
The two companies were found to be involved in illegal deposit-taking activities and were conducting a social media campaign related to such unlawful activities. The SECP conducted a thorough investigation against them and issued show cause notices them on July 13, 2021 under Section 84 of the Companies Act, 2017, which culminated into penal orders dated March 18, 2022 along with the direction to unwind the unlawful transactions of deposit taking.
Both the companies filed appeals against the penal orders before the SECP’s Appellate Bench, which after due process of the law decided the cases on merit on May 02, 2023 and upheld the penal orders of the Commission’s Adjudication Division.
Subsequently, the companies filed appeals against the orders of the Appellate Bench before Islamabad High Court.the IHC held multiple hearings, wherein the SECP, through its special public prosecutors, successfully presented its case and defended the orders of its Appellate Bench and Adjudication Division. Resultantly, the high court dismissed the appeals by determining that the submissions made by the appellants were misconceived and without merit.
The SECP said that it had clarified in the past through multiple press releases that mere registration of a company with the Commission “does not authorize it to seek deposits from the general public. Deposit-taking by companies, other than banking companies and entities duly licensed by the SECP, is illegal under Section 84 of the Companies Act, 2017.”
“The general public is advised, in their own interest, to exercise caution and avoid dealing with and investing in illegal schemes offered by companies involved in unauthorized deposit-taking, unauthorized investments, or multi-level marketing schemes,” it added.








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KARACHI: June 05 –



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KARACHI: June 05 – Vice Chancellor University of Karachi Prof. Dr. Khalid M. Iraqi receiving shield at the inaugural session of National Conference; Future Prospects of Regional Connectivity through Dialogue in South Asia Global and Strategic Perspectives organized by Rabita Forum International (RFI) & ASCE at National Institute of Management (NIM).

ISLAMABAD, Jun 05 (APP): Pakistan team is gearing up to face off against Saudi Arabia in a crucial match of the FIFA World Cup 2026 Qualifier Round 2 here at the Jinnah Stadium of Pakistan Sports Complex on Thursday.
Pakistani coach Stephen Constantine in a pre-match conference here, expressed his team’s readiness to take on the Saudi Arabian team, saying, “We are prepared to give them a tough time and make the most of this opportunity.”
Pakistani player Abdullah Iqbal echoed his coach’s sentiments, stating, “We are fully prepared and will give our best performance. We want to win, regardless of the circumstances.”
Meanwhile, Saudi Arabian head coach Roberto Mancini, acknowledged the challenges of playing against Pakistan, saying, “All matches are difficult, and we are not taking the match against Pakistan lightly.”
Saudi Arabian player Mukhtar Ali who was excited about playing against Green-shirts in Pakistan, said, “We have received a warm welcome, and we are eager to put on a good show.”
The match is expected to be a thrilling encounter, with both teams, determined to come out on top.
Pakistan will face Saudi Arabia on June 6 followed by an away fixture against Tajikistan on June 11 in Dushanbe, Tajikistan with Diaspora (D) players already joined the team.
Pakistan squad- Goalkeepers: Yousuf Butt (D), Saqib Hanif and Hassan Ali. Defenders: Abdullah Iqbal (D), Mohammad Fazal (D), Haseeb Khan, Rao Omer Hayat, Mamoon Moosa, Mohammad Saddam, Waqar Ihtisham, Moin Ahmed and Abdul Rehman. Midfielders: Rahis Nabi (D), Otis Khan (D), Ali Uzair, Umair Ali, Toqeer ul Hassan, Alamgir Ghazi and Ali Zafar. Forwards: Imran Kayani (D), McKeal Abdulah, Fareedulah, Adeel Younas and Shayak Dost. Pakistan are placed in Group G with Saudi Arabia, Jordan and Tajikistan.