May 2, 2025 (MLN): First National Equities Limited (PSX: Fnel) has assured a legal victory as the Honorable Superior Court dismissed a petition presented by the Pakistan Stock Exchange and Securities Commission (SECP) in relation to the obligations to repurchase actions.
The petition, originally presented by SECP in January 2016 under the jurisdiction of companies, requested a judicial directive that forced Fnel to repurchase actions of minority shareholders.
However, after reviewing the company’s presentations and supporting documentation, the Court ruled the petition as unsuccessful and officially dismissed the case on April 29, 2025.
The decision leads to a legal issue that has covered almost a decade, providing clarity for Fnel and its shareholders.
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Posted on: 2025-05-02t16: 13: 59+05: 00
The post Fnel wins the legal battle against the repurchase of SECP Over Share first appeared in Mettis Global Link.
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