ISLAMABAD, Feb 10: The President and Chief Executive Officer of Pakistan Mobile Communication (Mobilink), Mr Al Barry was reinstated under an agreement signed by two warring groups of the company’s board of directors here on Monday.

The agreement, which resulted from a hearing held by the Securities and Exchange Commission of Pakistan (SECP), resolved their dispute “after realising that their respective actions, besides being unlawful, were harmful for the company,” according to an SECP press release.

The SECP directed all the directors of the company to ensure that the company was managed, in future, in a lawful manner keeping in view the rights and interests of all stakeholders.

The Executive Director, Company Law, Mohammad Hayat Jasra, after hearing representatives of the two parties, observed: “Notwithstanding the fact that disregard of law needed to be punished in a proper manner, I have taken a very lenient view of the matter because the parties have already realised their mistake and made amends by signing a compromise....”

The two sides also pledged to withdraw the cases filed in an Islamabad court against each other.