By Farhan Sharif

KARACHI: The Board of Directors of the Karachi Stock Exchange (KSE) held a meeting to discuss the issue relating to the suspended company Callmate and asked the Securities and Exchange Commission of Pakistan (SECP) and the management of the suspended company to resolve the issue in line with the investors’ interest.

According to the sources, the board has taken a serious notice of delay in action by the management as the frontline regulator. The board members were of the view that despite the issuance of notice by the regulating authority, the removal of auditing firm and appointment of another auditing firm by the company, the KSE management did not taken any measure against the company. The management did not even respond when the company announced its bonus.

The board members have also discussed the current conditions regarding the investment stuck after the suspension of share trade in the company and its position in the Continuous Funding System.

Sources said that the details of the meeting would be sent to the regulating authority, which is likely to consider the proposal given by board members during the meeting.

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