AKD-EOBI collision: FIA summons Stock Exchange officials

KARACHI: The FIA has summoned seven members, including the chairman of the Corporate Governance Committee of the Stock Exchange to have their statements recorded in the case in which the alleged collusion of AKD Securities and the EOBI has caused a loss of hundreds of millions of rupees to the national exchequer.

The Chairman of the Corporate Governance Committee, Mohammad Yasin Lakhani, has been summoned to appear on Friday for having his statement recorded while the other members of the committee, Irfan Afridi, Basharatullah, Abdul Latif Suleman, Ibrahim Ahmed Memon, Mohammad Ashraf Kothari and Tanvir Alam Munno have been asked to come on Monday as well.

According to the sources, the letter says that according to the record provided by PSX,Yasin Lakhani was the chairman of the Corporate Governance Committee, and the clearance to enlist Amtex Limited was given at a meeting of the Corporate Governance Committee under Yasin Lakhani’s chairmanship on 31 December 2009. 

The other directors of the committee knowingly and deliberately granted clearance to the defaulted company Amtex Limited which resulted in a loss of Rs290 million to the people in general and the EOBI in particular.