August 11, 2021 (MLN): Pakistan Stock Exchange (PSX) has removed Calcorp Limited from the Defaulter Counter.
To recall, the company had filed a lawsuit in 2018, following which the Honorable High Court of Sindh had directed the Securities and Exchange Commission of Pakistan (“SECP”) to “maintain status-quo” and restrained the Pakistan Stock Exchange (“PSX”) “from acting any further.
Subsequently, Calcorp has successfully resolved the compliance matters with SECP which was the initial cause of the notice from the PSX. This resolution has resulted in the PSX removing Calcorp from the Defaulter Counter.
As a result, the company has approached the Honorable High Court of Sindh to withdraw its Suit, and the case has now been dismissed.
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