ZHV Securities TREC forfeited

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The Karachi Stock Exchange on Tuesday suspended the Trading Right Entitlement Certificate (TREC) of ZHV Securities. A notification on KSE website said: "All TREC Holders and investors are hereby informed that as resolved by the Board of Directors- KSE, TRE Certificate of M/s ZHV Securities (Private) Limited suspended TREC Holder-KSE has been forfeited with immediate effect, under Clause 2(A) (1) of General Regulations, on account of their inability to resolve investors' complaints/claims arising out of trades/transactions, registered with the KSE, due to financial precariousness".

"The forfeiture of TRE Certificate of M/s ZHV Securities (Private) Limited by KSE shall not affect the rights of their creditors in any manner and said corporate entity remains responsible for discharging all its financial obligations.

"In view of the forfeiture, claims are invited against M/s ZHV Securities (Private) Limited, forfeited TREC Holder-KSE. All investors/clients concerned of the above referred brokerage house are requested to submit their claims arising out of the transaction(s) made subject to the regulations of the KSE, if any, against the aforementioned brokerage house with CSIR department of KSE along with all the documentary evidences and duly filled investors' Claim Form which can be obtained/ downloaded from KSE website by visiting the link "Investor Corner".

"Please note, those who have already lodged their complaints/claims against the said brokerage house should not send their complaints again as these are already being processed by the KSE. However, in case they need to submit additional evidences in support of their already lodged claims, they may submit relevant documents to the KSE within specified time by specifically mentioning their assigned claim number against their claim as reference.

KSE will scrutinise all the claims received with available records of the said forfeited TREC Holder, Central Depository Company and payments/receipts proving documents including bank statements/letters/cheques to ascertain its legitimacy. In order to verify each claim and to ascertain its genuineness, KSE may seek advice or employ the services of a reputed firm of chartered accountants.

KSE reserves the right to take appropriate legal action against those who lodge false or fictitious claims. "It may be noted that last date for submission of claims against M/s ZHV Securities (Private) Limited is June 13, 2013 after that no claim shall be entertained by Karachi Stock Exchange Ltd."



Courtesy: BR


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