The Securities and Exchange Commission of Pakistan (SECP) chief has referred to the list of 81 companies quoted on the defaulters' segment of the Karachi Stock Exchange (KSE). During interaction with media on Tuesday, SECP Chairman Zafar Hijazi quoted the list of the KSE cos on the defaulter's counter of the exchange. According to the KSE list available with the SECP, the list of KSE has specified name of company and nature of default.
THE KARACHI STOCK EXCHANGE LIMITED List of Companies quoted on the Defaulters' Segment of the Exchange:
FORESTRY (PAPER AND BOARD), Abson Industries, nature of default 5.11.1.(b)(d)(e)(g); INDUSTRIAL METALS AND MINING, Dost Steels, 5.11.1(a); Metropolitan Steel Corp, 5.11.1.(b)(e), Quality Steel Works, 5.11.1.(b)(c)(e)(g); CONSTRUCTION AND MATERIALS (CEMENT), Dadabhoy Cement, 5.11.1.(e); Dadabhoy Construction, 5.11.1.(e)(g); Mineral Grinding 5.11.1.(b)(d)(e)(g); GENERAL INDUSTRIALS, Dadabhoy Sack, 5.11.1.(e)(g); Hashimi Can Co, 5.11.1.(b)(e)(g); ENGINEERING, Dewan Automotive Engineering, 5.11.1(b)(e); INDUSTRIAL TRANSPORTATION, Pan Islamic Steamship, 5.11.1(b)(d)(e)(g); AUTOMOBILE AND PARTS, Bela Automotives, 5.11.1(b)(e)(g); Transmission Engineering, 5.11.1.(b); FOOD PRODUCERS, Extraction (Pakistan), 5.11.1.(b)(d)(e)(g); Morafco Industries, 5.11.1.(g); Saleem Sugar(O), 5.11.1.(b)(e)(g); Saleem Sugar (PP), 5.11.1.(e)(g); Saleem Sugar (P)6%, 5.11.1.(e)(g); Suraj Ghee Industries, 5.11.1.(b)(c)(e)(g); HOUSEHOLD GOODS, Casspak Industries, t.11.1.(b)(d)(e)(g); Husein Industries, 5.11.1.(b); Nina Industries(*), 5.11.1.(b)(e)(g); Regal Ceramics, t.11.1.(b)(d)(e)(g); PERSONAL GOODS (TEXTILE), Adil Textile (*), 5.11.1.(g), Annoor Textile, 5.11.1.(e)(g); Al-Qaim Textile, 5.11.1.(b)(e)(g); Ayaz Textile, 5.11.1.(b)(c)(e)(g); Azmat Textile, 5.11.1.(b)(d)(e)(g); Al-Azhar Textile, 5.11.1.(e); Carvan East Fabrics, 5.11.1.(b)(d)(e)(g); (Colony) Sharhad Textile, 5.11.1.(g); (Colony) Thal Textile, 5.11.1.(b)(e); Data Textiles, 5.11.1.(e); Elahi Cotton, 5.11.1.(e); Fatima Enterprises, 5.11.1.(g); Fateh Textile, 5.11.1.(c); Globe Textile, 5.11.1.(e)(g); Globe (O.E) Textile, 5.11.1.(g); Gulistan Textile, 5.11.1.(d)(e); Hajra Textile, 5.11.1.(e); Hamid Textile, 5.11.1.(e)(g); Hakkim Textile, 5.11.1.(b)(c)(e)(g); Ishtiaq Textile, 5.11.1.(g); Karim Cotton; Kaiser Arts & Krafts 5.11.1.(b)(d)(e)(g); Khurshid Spinning, 5.11.1.(g); Mehr Dastgir Textile, 5.11.1.(e)(g); Mohib Exports, 5.11.1.(b)(c)(e)(g); Moonlite (PAK), 5.11.1.(c); National Fibres, 5.11.1.(b)(c)(e)(g); Noor Silk, 5.11.1.(e)(g); Pak Leather Crafts, 5.11.1.(e); Schon Textile, 5.11.1.(b)(d)(e)(g); Saleem Denim Industries, 5.11.1.(e)(g); Sadoon Textile, 5.11.1.(b)(c)(e)(g); Service Fabrics, 5.11.1.(e)(g); S.G Fiber, 5.11.1.(e); Sunshine Cotton, 5.11.1.(b)(c)(e)(g); Taj Textile, 5.11.1.(e)(g); Usman Textile (*),5.11.1.(b)(g); Zahur cotton, 5.11.1.(e)(g); HEALTH CARE EQUIPMENT AND SERVICES, Medi Glass, 5.11.1.(b)(d)(e)(g); ELECTIRCITY, Genertech Pakistan, 5.11.1.(e); S.G. Power 5.11.1.(e); NON LIFE INSURANCE, Beema Pakistan, 5.11.1.(b)(c)(e); Business & Industrial Insurance, 5.11.1.(b)(c)(e); Hallmark Insurance, 5.11.1.(e)(g); Pakistan Guarantee Ins., 5.11.1.(b)(c)(e)(g); Progressive Insurance, 5.11.1.(b)(c)(e); Standard Insurance, 5.11.1.(c)(e)(g); FINANCIAL SERVICES, Al-Mal Sec. & Service(*), 5.11.1.(b)(e)(g); Dawood Capital Management, 5.11.1.(b); English Leasing, 5.11.1.(b)(c)(e); Investec Securities(*),5.11.1.(b)(e)(g); J.O.V & Co, 5.11.1.(b)(e); National Asset Leasing Corp (*),5.11.1.(b)(d)(e)(g); Prudential Discount & Guarantee House; 5.11.1.(b)(c)(e); Pak. Ind & comm.. Leasing(*),5.11.1.(b)(e)(g); Prudential Investment Bank (*),5.11.1.(b)(c)(e)(g); EQUITY INVESTMENT INSTRUMENTS; Dominion Stock Fund(*),5.11.1.(b)(g); Investec Modaraba 1st (*),5.11.1.(b)(c)(g); Investec Mutual Fund(*),5.11.1.(b)(c)(g); Prudential Stocks Fund, nature of default is 5.11.1.(b)(d)(e)(g).
NATURE OF DEFAULTS: 5.11.1.(A), Failed to commence commercial production/business for three years form the date of formal listing; 5.11.1.(b), FAILED TO HOLD Annual General Meeting for 2 consecutive years; 5.11.1.(c), Winding-up proceedings initiated; 5.11.1.(d), Official Liquidator/Liquidator has been appointed; 5.11.1.(e), Failed to pay the Annual Listing Fee for 2 years/penalty/any other dues; 5.11.1.(g), Failed to induct the ordinary Shares into CDS, the list added.
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