ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has submitted in the Supreme Court its reply to Hanif Abbasi’s petition seeking disqualification of Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan and Secretary-General Jahangir Tareen over tax evasion and non-declaration of offshore companies in their nomination papers.
The SECP, in its reply, said Jehagir Tareen had illegally bought shares of United Sugar Mills in the names of different persons and approximately Rs 70 million illegal amount was minted. Jehagir Tareen, in his reply to the SECP inquiry committee, admitted to mint money in violation of company rules and returned back the money generated through illegal sources.
The SECP stated that Jehagir Tareen was also fined for buying shares illegally. Jehagir Tareen also paid fine over violations of rules over SECP notice.
A three-member bench of the apex court headed by Justice Mian Saqib Nisar will hear the petition filed by Pakistan Muslim League-Nawaz leader Hanif Abbasi on Wednesday (today).
