The Islamabad High Court (IHC) has barred the Securities and ExchangeCommission Pakistan (SECP) from taking action against the official blamedfor ‘leaking data’ related to the family business of Special Assistant toPrime Minister on Information, retired Lt Gen Asim Saleem Bajwa.
IHC Chief Justice, Athar Minallah, also objected to the presence of SECPcounsel, Shahid Anwar Bajwa, during the proceeding.
Justice Minallah inquired the reason for his presence as the court is yetto decide on the maintainability of the appeal and no notice has beenserved.
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Advocate Bajwa replied that he attended the proceedings on the request ofhis client who had instructed him to receive the court notice.
To this, Justice Minallah asked:
How could you be so sure that we will issue a notice to SECP at this stage?This conduct confirms the apprehensions expressed by the petitioner.
The Chief Justice then asked the counsel if he believed in across-the-boardaccountability of every citizen?
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I am sure the prime minister was not aware of this since he believes inaccountability.
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The IHC top judge remarked that prima facie these companies are related toAsim Bajwa. Justice Minallah said that making such information public is apre-requisite of accountability.
It is beyond comprehension as to why a regulator was taking interest inthis matter, the judge noted.
The petition filed by SECP’s additional director of market surveillancedepartment, Arslan Zafar, was eventually taken up by the court.
