ISLAMABAD-A petition difficult the structure of an inquiry committee to probe the information leak of Securities and Trade Fee of Pakistan (SECP) was filed on Friday earlier than the Islamabad Excessive Courtroom (IHC). 

A single bench of IHC comprising Chief Justice of IHC Justice Athar Minallah would conduct listening to of the petition filed by Muhammad Arslan Zafar Further Director SECP.

In his petition filed by means of Taimoor Aslam Khan Advocate, Zafar made Chairman SECP, Secretary SECP and Chairman of Inquiry Committee Ms Sadia Khan as respondents.

He said that petitioner is presently serving as Further Director, Market Supervision and Danger Division within the SECP and he’s a certified Chartered Accountant, having obtained his academic diploma from the distinguished Institute of Chartered Accounts in England and Wales.

The petitioner talked about that whereas serving his duties on September 9, Head of Division, Human Useful resource knowledgeable him that an inquiry has been initiated towards him and he was required to proceed on depart with fast impact. He added that his laptop computer was taken into possession by HoD which contained confidential and delicate info, with respect to ongoing and accomplished investigations, with out complying with any authorized formalities reminiscent of making ready of a seizure memo and so on. 

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Zafar additional mentioned that on 11-09-2020, the petitioner acquired a letter dated 10-09-2020 containing the topic “Inquiry Regarding the matter of accessing the database,” whereby, by means of the contents of the mentioned letter, it transpired to him that the Respondent Fee in its 45th Assembly held on 08th and 09th September had constituted an Inquiry Committee

He additionally mentioned that the petitioner in due compliance appeared earlier than the Inquiry Committee on 16-09-2020, whereby, he totally cooperated with the Inquiry Committee and responded to all questions posed to him.

In his petition, he challenged the structure of the Inquiry Committee by the SECP to provoke needed formal inquiry on account of “potential data leak of SECP Database.”

He prayed to the courtroom to declare the Inquiry Report dated 19-09-2020 submitted by the mentioned Inquiry Committee solely conjectural in nature and primarily based on mere assumptions and never on info and to cite the Inquiry Committee “provide ‘circumstantial evidence’ of his involvement in potential data leak which may have formed the basis of subsequent media leaks” and in utter violation of the due strategy of regulation, as null and void, ab initio and put aside the identical, within the pursuits of justice

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He additionally requested the courtroom to declare the impugned present trigger discover dated 22-09-2020, primarily based solely on the report of the Inquiry Committee, as null and void, ab inito and put aside the identical, on the nicely settled precept, propounded upon repeatedly by the Supreme Courtroom, as follows “if foundation of an action was void, then superstructure built thereon had to fall.”