Tag Archives: Directors

LDA suspends two assistant directors

Lahore Development Authority has suspended two assistant directors Rameen Choudhary and Roye Shajar Abbas and begun an inquiry against them for alleged embezzlement in diesel quota allocated for LDA vehicles. The relevant

Eight PEF directors’ appointment challenged

LAHORE – Lahore High Court (LHC) Justice Sheikh Azmat Saeed issued notice to the Punjab government on a petition challenging appointment of eight directors of Punjab Education Foundation (PEF) by the Punjab government.
Justice Azmat observed that the court would ensure implementation of merit policy. Muhammad & Ahmad, a public litigation firm, filed the petition through Muhammad Azhar Siddique, submitting that the PEF was established under Punjab Education Foundation Act 1991,

PEF directors’ appointment challenged in LHC

LAHORE – A petition was filed in the Lahore High Court on Tuesday challenging the appointment of eight directors of the Punjab Education Foundation (PEF) by the Punjab government.
The petition was filed by Muhammad & Ahmad, a public litigation firm. Petitioning Counsel Muhammad Azhar Siddique stated that PEF was first established under Punjab Education Foundation Act 1991 but the act was abolished and replaced by Punjab Education Foundation Act 2004 and subsequently PEF was also

Summit Bank co-opts 7 Mybank directors

KARACHI – Summit Bank Limited (SBL), which has acquired 59.34 percent of the total issued and paid-up capital of Mybank Limited (MBL), has co-opted at least seven new directors at the board of the MBL. The merger was finalised at the start of this year, in January, when shareholders of the two banks had given a green signal to their respective managements on the proposed amalgamation.
The SBL then acquired up to 314.701 million ordinary shares of the MBL at a rate of Rs 8.0 per

SECP nominates LSE directors

KARACHI – The Securities and Exchange Commission of Pakistan (SECP) has nominated high profile and experienced professionals from the financial and capital markets as directors on the Board of Lahore Stock Exchange (LSE) for 2011. The nominees are Nishat Group Group Director (Finance and Accounts) Aftab Ahmad Khan, Crosby Capital Pakistan (Private) Limited Chief Executive Mumtaz Hussain Syed, Trust Investment Bank Limited Chairman Asif Kamal, and Kohinoor Maple Leaf Group former Group

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