Treasure Magazine

Treasure Magazine

IHC to hear petition against Ex-SECP Chief Shaukat Hussain

3 min read
IHC
Chaudhary Yar Muhammad filed a writ petition in IHC, requesting IHC to order DG FIA to register FIR against former Chairman of SECP Shaukat Hussain

ISLAMABAD: The Islamabad High Court (IHC) will hear the petition tomorrow  (March 29)  to determine registration of case against former Chairman SECP Shaukat Hussain and others for fudging of a company’s shareholding records to change the ownership/directorship of a company, Yusra Medical and Dental College Pvt Limited.

SECP is custodian of all type of company’s records and any probable unauthorized change in record in a severe criminal offence. In recent past, another former Chairman of SECP Zafar Hijazi was also accused of tempering record of Ramzan Sugar Mills and was removed from his position by the government.

A citizen, Chaudhary Yar Muhammad, filed a writ petition in IHC under article 199 of the Constitution, requesting IHC to order DG FIA to register FIR against former Chairman of SECP Shaukat Hussain and others for forging record of his company to change the company’s ownership.

The applicant, Ch Yar Muhammd is a director and shareholder of Yusra Medical and Dental College Pvt Limited, a company registered under the provisions of Companies Act. He had moved application to D GFIA under section 218 of Pakistan Penal Code against SECP officials including former Chairman Shaukat Hussain, Mr Syed Jamal Ahmad Zaidi, Deputy Registrar SECP and Mr Aamir Jameel, Deputy Registrar at SECP.

The applicant alleged that at the time of record manipulation, Shaukat was incharge of SECP’s Company Registration Office, Islamabad and was directly involved in forged company record and prepared duplicate records of company shareholding to present false information/record to the court. The illegal act of SECP staff is a cognizable offence under PPC section 218, and falls under the jurisdiction of FIA, Yar Muhammad alleged.  Whereas, he alleged further, DG FIA, with intend to save the SECP persons from punishment, refused to register case against accused persons, despite availability of documentary evidences.

Yar Muhammad accused that he has annexed documentary evidences along with his application to FIA which clearly postulated that SECP has maintained three kind of record, that had been produced on different forums to favour the specific persons and damages his shareholding in the company. The FIA officials did not even inspect and examine the record and dropped the proceedings malafidely for monetary gains. He accused that the company directors which were favored by SECP officials, spending a lot of money to stop the due course of law. He has already registered an FIR in Police Station Civil Clines under section 420, 468 and 471 for fraud and forgery of record against the directors of the company who submitted fake stampaper using his name.

He pleaded that the SECP officers have acted dishonestly, fraudulently, misusing their authority to extend illegitimate favours to camouflage the guilt of culprits. In the light of facts and documentary evidences, he prayed the IHC to order registering an FIR against involved SECP officials.

He had also filed an application with Justice of Peace to get instruction for FIA in favour of his application, However, Justice of Peace has dismissed his application. Yar Muhammad also pleaded IHC to set aside the order of Justice of Peace regarding FIR No-2/2-17.

He pleaded that it has been held by the apex court that civil and criminal liability could go side by side and there is no embargo on registration of FIR if any civil controversy exists between the parties. He argued that the theft items could only be recovered if an effective investigation is carried out and the FIA should be directed to register a case against accused officials of SECP.