LAHORE, Jan 21: The SECP will take action against the companies and their chief executives as well as directors, if they fail to regularize their defaults of filing statutory returns under the Companies Ordinance, 1984 by end of this month under the SECP’s Companies Regularization Scheme.

The scheme was launched by the SECP from Jan 1 to provide an opportunity to non-listed public and private limited companies to regularize their defaults with some concessions and incentives.

The SECP has advised the companies to file the overdue returns with the returns for the current year before Jan 30 to regularize themselves.