1. Messrs Investec Securities Limited (the. Undertaking) was asked to supply the information/documents under section 21 of the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970 (the Ordinance) vide letter dated September 30, 2002. The Undertaking supplied partial information only vide its letter No.786/ISL/MD-0237/2002 dated October 12, 2002 and was, therefore, asked to furnish the remaining information vide letter dated November 2, 2002 but it failed to do so. It was reminded vide letters dated January 2 and February 4, 2003 respectively to comply but it again failed to supply the requisite information or to respond to the Authority's letters. The Undertaking was, therefore, served with Show-Cause Notice No.43 of 2002-2003 on April 23, 2003 but it failed to respond to the show-cause notice as well.
2. The matter was fixed for hearing on July 26, 2003 through notice issued to the Undertaking on July 7, 2003. However, neither the Undertaking nor any authorized representative appeared on the date of hearing.
3. The authority decided the matter ex parte and imposed a penalty of Rs.20,000 (Rupees twenty thousand only) under section 19(1)(a) of the Ordinance, on the Undertaking. The penalty shall be paid within one month from the date of the order. revisions by the competent authorities. Therefore, it is advisable to consult the official sources or legal professionals for the most up-to-date and accurate information.