ISLAMABAD: Kohinoor Spinning Mills Limited (KSML) has denied social media reports claiming that the Federal Board of Revenue (FBR) shut down its operations over integration issues, saying no such incident had taken place.
In a clarification submitted to the Pakistan Stock Exchange (PSX) on Friday, the company described the reports as “fake, baseless and misleading”.
Kohinoor Spinning said it had already implemented the FBR’s Invoice Integration System and was currently engaged only in the trading of yarn.
The company said the circulation of false information could mislead investors and damage its reputation.
It added that it reserved the right to approach the National Cyber Crime Investigation Agency (NCCIA) and pursue legal action under applicable laws, including the Prevention of Electronic Crimes Act, 2016, against those responsible for creating or spreading fake news.
Kohinoor Spinning advised shareholders, investors and the public not to rely on unverified information and said news concerning the company, particularly material circulating on social media, should first be verified with the company secretary before being shared or acted upon.
