' The Monopoly Control Authority (hereinafter referred to as "the Authority") vide its order dated January 15, 2003 allowed two months time for submission of annual audited accounts for 2001 and 2002 to Messrs Chiltan Ghee Mills (Pvt.) Limited (hereinafter referred to as "the Undertaking"). The Undertaking was required to supply the requisites documents by March 15, 2003 but it failed to do so. It was, therefore, served with a show-cause notice on April 09, 2003 under section 19(1)(a) of the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970 (hereinafter referred to as "the Ordinance"). The Undertaking vide its letter dated April 23, 2003 requested for allowing it submission of the requisite documents after completion of the financial year 20022003.
The Authority accepted the request and fixed the hearing on July 26, 2003 vide hearing notice dated July 7, 2003 issued to the Undertaking. However, on the due date neither the undertaking nor any duly authorized representative appeared on its behalf.
2. The Authority observed that the Undertaking failed to comply with the order of the Authority dated January 15, 2003 under which it was required to submit its annual audited accounts for the years ended June 30, 2001 and 2002 by March 15, 2003.
3. The Authority however, considered the fact that the Undertaking remained under the control of the "Receiver" in compliance with the orders of the Banking Court Quetta from October, 1999 to 8th July, 2000 and the matter is pending before the Honourable Judge, Banking Court for decision in respect of the liabilities and losses sustained by the Undertaking during the "Receiver's" period. The Undertaking had earlier made a written request for submission of the audited accounts for 2001- 2002 by the completion of the financial years 2002-2003, but it failed to do so.
4. After considering all the facts the Authority decided that the request for further extension in the submission of audited accounts for 2001-2002 is not reasonable, hence it is rejected. The Authority, therefore, imposed a penalty of Rs.20,000 (Rupees twenty thousand only) under section 19(1)(a) of the Ordinance. The penalty shall be paid within one month from the date of receipt of the order.