07-18-2003, 03:34 AM
Yes, i agree with both of you,
but what does the SECP do with the companies, who get qualification in their reports. i know exactly the case of the company(as my cousin is the shareholder of that company) and if u r interested in knowing that company just email me i ll give u the reference of company.
i agree with both of you that SECP should protect the rights of minority shareholders, and i am not against that,(as i am also a shareholder) but i regret to say that SECP is not doing so, it is just against the Chartered Accountants, i dont know why ????
It should penalized the Company as well, Like one of you has quoted the example our Police,
let me rephrase the example,
Characters
Police = Auditors
Murderer = Company
Innocent Man = Minority Shareholders
Court = SECP
If Murderer has murdered an innocent man, and the police failed to catch him, the court on the other hand, have access to that murderer, and it can punish that person, but the court, instead of punishing that murderer, Penalizes the police for its negligence, then what will that murderer do ?????? He will definately find another innocent man to kill him, as he knows that whatever i do, the police will be responsible, and nobody is going to catch me,
i dont know, i have been able to explain the role of SECP or not, infact SECP is exactly doing the Same thing,
"THE SECP MUST RESOLVE THE BOARD OF DIRECTORS AND SHOULD NOMINATE ALL THE DIRECTOR ITSELF WITH THE CONCENT OF SHAREHOLDERS, AND REPLACE THE EXISTING MANANGEMENT BY CALLING EXTRAORDINARY GENERAL MEETING"
SECP is too much active after the cases of Eneron, but i would like to tell u all that the case like eneron can never be happened in Pakistan, where all companies hide their profits for tax evasion, can u name any company in pakistan, on which we can be suspicious that it must have shown false profits ????????????????
S M R
but what does the SECP do with the companies, who get qualification in their reports. i know exactly the case of the company(as my cousin is the shareholder of that company) and if u r interested in knowing that company just email me i ll give u the reference of company.
i agree with both of you that SECP should protect the rights of minority shareholders, and i am not against that,(as i am also a shareholder) but i regret to say that SECP is not doing so, it is just against the Chartered Accountants, i dont know why ????
It should penalized the Company as well, Like one of you has quoted the example our Police,
let me rephrase the example,
Characters
Police = Auditors
Murderer = Company
Innocent Man = Minority Shareholders
Court = SECP
If Murderer has murdered an innocent man, and the police failed to catch him, the court on the other hand, have access to that murderer, and it can punish that person, but the court, instead of punishing that murderer, Penalizes the police for its negligence, then what will that murderer do ?????? He will definately find another innocent man to kill him, as he knows that whatever i do, the police will be responsible, and nobody is going to catch me,
i dont know, i have been able to explain the role of SECP or not, infact SECP is exactly doing the Same thing,
"THE SECP MUST RESOLVE THE BOARD OF DIRECTORS AND SHOULD NOMINATE ALL THE DIRECTOR ITSELF WITH THE CONCENT OF SHAREHOLDERS, AND REPLACE THE EXISTING MANANGEMENT BY CALLING EXTRAORDINARY GENERAL MEETING"
SECP is too much active after the cases of Eneron, but i would like to tell u all that the case like eneron can never be happened in Pakistan, where all companies hide their profits for tax evasion, can u name any company in pakistan, on which we can be suspicious that it must have shown false profits ????????????????
S M R
