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Mr. Rashid Abdullah Chairman, Searle Pakistan Limited Mr. Tariq Ismail Mr.

CourtAppellate Bench of Securities and Exchange Commission of Pakistan
Case No.Appeal No. 40 of 2007
Date-
Judge(s)Fida Hussain Samoo, Zafar Abdullah
ResultN/A

1. This order is in revision No. 40 of 2007 filed under section 477 of the Companies Ordinance, 1984 (the "Ordinance") against the order dated 24/09/07 (the "Impugned Order") passed by the Respondent. We have been provided letter/settlement dated 19/05/10 by the Enforcement department of the Securities and Exchange Commission of Pakistan (the "Commission") from Searle Pakistan Limited ("Appellant No.9"), wherein, it is stated in paragraph 2 that the Revision application titled Rashid Abdullah & Others versus Executive Director (Enforcement), pending before the Appellate Bench of SECP has been withdrawn to allow a settlement to take place "...On the terms and conditions agreed by and between the parties but without prejudice to our legal rights in case of any future dispute..."

In view of the above that the parties have agreed to settle the matter and the Revision application has been withdrawn in the subject matter, the revision application is dismissed. 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.

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