The Securities and Exchange Commission of Pakistan (SECP) issued a public caution to shield the general public from illegal activities being completed by diverse companies and counseled the general public to chorus from investing in employment schemes.
According to the report, the company region regulator said that a corporation known as La Ville de Paris Housing Scheme Limited changed into inviting the public to buy the La Paris Registration Certificate so that they may very own the residential and commercial property to be launched by using the corporation within the destiny.
The organization is also imparting fortunate cash prizes with a minimum guaranteed consistent with-fee certificates and eligibility for worthwhile coins prizes through lottery.
The Securities and Exchange Commission of Pakistan stated that the general public is informed that funding opportunities beneath which any future go back/benefit, possibility or lottery or another conditional submission or partnership guarantee, is an illegal pastime and there’s a whole provision for the closure of such corporation under Section 301 of the Companies Act 2017.
The commission added that inviting the public to put money into any refund offer is a confined enterprise interest and the simplest unique agencies authorized by means of the Securities and Exchange Commission of Pakistan or the State Bank of Pakistan can offer it.
The above corporation has really stated in its memorandum affiliation that it’s going to now not be concerned in any lottery enterprise or any restrained or unlawful enterprise.
The Securities and Exchange Commission of Pakistan (SEC) said it changed into reviewing the activities of the organization, including that it becomes deemed appropriate to deceive them about the ability of the organization’s registration repute. Be cautious with usage.
The Securities and Exchange Commission of Pakistan (SEC) said that another organization called ‘All Pakistan Projects’ changed into providing worthwhile funding packages through its website. The fee knowledgeable the general public that ‘All Pakistan Projects’ Not registered with SECP.
The Securities and Exchange Commission of Pakistan (SEC) stated that it’s been stated that some of the people whose names appear at the website of the stated group are directors/individuals within the following registered organizations that include APP Projects and Real Estate (Pvt) Ltd., AITS Traders (SMC Pvt) Ltd., APP Restaurants & Cafes (Pvt) Ltd.
APP Riders (Pvt) Ltd., APP P Shopping Mall (Pvt) Ltd. The SECP insisted that even a registered business enterprise could not invite or receive deposits from the general public.