SECP warns against fraudulent firm

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Tuesday warned the public to be aware of unauthorised activities of Galaxy Typing Jobs (SMC-Private) Limited.

The commission in a notice said the company had been found involved in illegal deposit taking by offering hefty monthly profits on fixed investments.

The SECP further said it had initiated winding up proceedings against this company under section 301 read with section 304 of the Companies Act, 2017.

The SECP had earlier issued pubic warning against the companies in newspapers and had referred the case to relevant investigating agencies.

The corporate regulator said it had come know that the company was involved in fraudulent activities in the garb of investment with the intent of depriving the public of their hard-earned money.

For that purpose, the company has also maintained a website. The commission said the company was fraudulently claiming that it had been approved by the SECP.