The Securities and Exchange Commission of Pakistan has initiated a major corporate registry cleanup by publishing a list of more than 200 companies that are set to be removed from official records. These entities are expected to be struck off the corporate register in the coming months unless valid objections are submitted within the stipulated ninety-day period announced by the regulator. The move is part of SECP’s ongoing effort to streamline the country’s corporate database and eliminate inactive or dormant entities that no longer engage in business activities.
According to the notices released by the SECP, the companies seeking removal have applied under Section 426 of the Companies Act, 2017, along with the requirements set forth in the Companies Easy Exit Regulations of 2014. These regulations allow non-operational or dormant entities to voluntarily exit the corporate framework through a formal dissolution process, provided they meet statutory conditions. The regulator issued the notices based on formal requests submitted through the advertisements section designated for corporate bodies and private individuals.
The SECP confirmed that each company listed for dissolution has filed declarations signed by their respective chief executives and directors. The declarations state that the companies hold no assets or liabilities, are not engaged in any commercial activity, and do not owe any dues to government departments, banks, private entities, utilities, or financial institutions. To ensure authenticity, these declarations have been verified and certified by practicing chartered accountants and auditors, in line with the legal prerequisites for voluntary exit.
In accordance with Sections 425 and 426 of the Companies Act, the regulator has now opened the window for objections. Any party with a valid reason to oppose the removal of a company from the corporate register must submit their objection within ninety days from the date of the official notice. If no objection is raised within this timeframe, the SECP will proceed to formally strike off the companies, resulting in their dissolution. Once dissolved, these companies will no longer hold any legal standing or operational authority under Pakistan’s corporate laws.
The SECP has emphasized that the process is being carried out strictly within the legal framework governing voluntary dissolution. The regulator maintains that the removal of dormant companies helps improve the accuracy of corporate records, ensures better compliance oversight, and maintains transparency within Pakistan’s business environment. A more accurate corporate database also assists policymakers, investors, and financial institutions in making informed decisions based on reliable and updated information.
This step is part of a broader regulatory effort to enhance corporate governance standards and ensure that entities listed on the registry reflect active and compliant businesses. By removing companies that are no longer operational, the SECP aims to strengthen the credibility of the corporate ecosystem and reduce administrative burdens related to monitoring inactive firms.
As the ninety-day objection period progresses, stakeholders with financial or legal interests linked to the listed companies have been encouraged to review the notices carefully. Any unresolved claims or pending matters must be addressed before dissolution is finalized to avoid complications once the companies are struck off.
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