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2016 CLD 1399

RASHID ABDULLAH, CHAIRMAN, SEARLE PAKISTAN LIMITED and 8 others vs

Citation2016 CLD 1399
CourtSecurities and Exchange Commission of Pakistan
Case No.Appeal No. 40 of 2007
Date2015-01-15
Judge(s)Fida Hussain Samoo, Zafar Abdullah
ResultAppeal dismissed

ORDER

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Rashid Abdullah and others v. Executive Director (Enforcement), pending before the Appellate Bench of SECP has been withdrawn to allow a settlement to take place "...On the terms and conditions agreed by and between the parties but without prejudice to our legal rights In case of any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' In view of the above that the parties have agreed to settle the matter and the Revision application has been withdrawn in the subject matter, the revision application is dismissed.

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