The Lahore High Court (LHC) on Monday adjourned the hearing of a suo motu notice against a foreign registered company for February 7. The court was informed that Security and Exchange Commission of Pakistan (SECP) had not submitted the record as the company did not provide the record to it. The court had taken suo moto notice of advertisements published by the foreign registered Farhan & Company in which it had offered the people to purchase property in the United Kingdom (UK).

The court, taking suo motu notice had observed that the approach would cause the loss to foreign exchange.

Tariq Shamim, appearing on behalf of the federal government, informed that SECP had fined the company for not providing the record and asked FIA and NAB to take action against the company.

Copyright Associated Press of Pakistan, 2005