After the Federal Government appointed three additional commissioners to bring its total to a quorum, the Securities and Exchange Commission of Pakistan (SECP) approved the creation of new benches to hear appeals under Section 33 of the SECP Act, 1997.
In the previous year, the Commission had only had two Commissioners on staff, which led to an accumulation of appeals that were brought before the Appellate Bench. The Registrar Appellate Bench has scheduled a hearing of 37 Appeals before newly appointed Commissioners Abdul Rehman Warraich and Mr. Mujtaba Ahmad Lodhi on December 29, 2022, following the formation of new benches.
The quick resolution of corporate issues, including appeals, was underlined by SECP Chairman Akif Saeed as one of the Commission’s main priorities. To that end, sufficient resources would be made available at the Appellate Bench Registry.