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