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KE fined for not submitting financial statements

Updated January 12, 2019

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The SECP says that KEL failed to file financial statements for the quarters ended December 31, 2016, and March 31, 2017.— Photo courtesy of KE
The SECP says that KEL failed to file financial statements for the quarters ended December 31, 2016, and March 31, 2017.— Photo courtesy of KE

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