KE fined for not submitting financial statements
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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has imposed a penalty of Rs130,000 on chief executive officer and directors of the K-Electric Limited (KEL), by maintaining its earlier order.
The SECP said that KEL failed to file financial statements for the quarters ended December 31, 2016 and March 31, 2017.
“Therefore — the SECP hereby imposes a fine of Rs5,000 per quarter on each respondent (13 directors including chairman and CEO) aggregating to Rs130,000,” the SECP order said.
Published in Dawn, January 12th, 2019
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Comments (2) Closed
Jan 12, 2019 09:16am
Is SECP playing some kind of a joke ? K-Electric hasn't published its Annual Audited Accounts nor held AGMs for years ended June 2017 and 2018 !
Time for another Chairman of SECP to be FIRED ! Rgds
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Jan 12, 2019 10:47pm
Is it possible to estimate as to how much damage to general public and businesses has been caused by load-shedding and poor electricity supply be KE? It is very unfortunate that there has been no accountability or punishment of KE owners and directors. What a shame.
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