AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

ISLAMABAD: The Islamabad High Court (IHC) Monday extended stay in a petition challenging the constitution of an inquiry committee to probe the data leak of the Securities and Exchange Commission of Pakistan (SECP) against its additional director.

A single bench of Chief Justice Athar Minallah heard the petition of Muhammad Arsalan Zafar, additional director SECP.

He has made Chairman SECP, Secretary SECP, and Chairman of the Inquiry Committee Sadia Khan as respondents.

During the hearing, the legal representative of the SECP requested the court to grant some time for submission of reply.

He informed the court that the reply of the SECP was ready and would be submitted soon.

The bench, accepting his request, extended stay orders and deferred the proceedings until October 27.

The petitioner is presently serving as additional director, Market Supervision and Risk Department in the SECP, and he is a qualified Chartered Accountant, having obtained his educational degree from the prestigious Institute of Chartered Accounts in England and Wales.

The petitioner has contended that while serving his duties on September 9, Head of Department, Human Resource, informed him that an inquiry has been initiated against him and he was required to proceed on leave with immediate effect.

He added his laptop was taken into possession by the HoD without complying with any legal formalities such as preparing of a seizure memo etc.

He stated the laptop contained confidential and sensitive information, with respect to ongoing and completed investigations.

Zafar further said on 11-09-2020, the petitioner received a letter dated 10-09-2020 containing the subject "Inquiry Regarding the matter of accessing the database", whereby, through the contents of the said letter, it transpired to him that the Respondent Commission in its 45th Meeting held on 08th and 09th September had constituted an Inquiry Committee.

He also said the petitioner in due compliance appeared before the Inquiry Committee on 16-09-2020, wherein, he fully cooperated with the Inquiry Committee, and responded to all questions posed to him.

In his petition, he challenged the constitution of the Inquiry Committee by the SECP to initiate necessary formal inquiry on account of "potential data leak of SECP Database".

He prayed before the court to declare the Inquiry Report dated 19-09-2020 submitted by the said Inquiry Committee entirely conjectural in nature and based on mere assumptions and not on facts and to quote the Inquiry Committee "provide 'circumstantial evidence' of his involvement in potential data leak which may have formed the basis of subsequent media leaks" and in utter violation of the due process of law, as null and void, ab initio and set aside the same, in the interests of justice

He also requested the court to declare the impugned show cause notice dated 22-09-2020, based entirely on the report of the Inquiry Committee, as null and void, ab inito and set aside the same, on the well-settled principle, propounded upon time and again by the Supreme Court, as follows, "if foundation of an action was void, then superstructure built thereon had to fall".

Copyright Business Recorder, 2020

Comments

Comments are closed.