4861/2025 Const. P. Dr. Zahra Gauhar (Petitioner) V/S Federation of Pakistan & others (Respondent)
Bench: Hon'ble Mr. Justice Adnan-ul-Karim Memon(Author), Hon'ble Mr. Justice Zulfiqar Ali Sangi
4861/2025 Const. P. Dr. Zahra Gauhar (Petitioner) V/S Federation of Pakistan & others (Respondent) Sindh High Court
Bench: Hon'ble Mr. Justice Adnan-ul-Karim Memon(Author), Hon'ble Mr. Justice Zulfiqar Ali Sangi Order Date: 27-APR-26
In view of the above, the position that emerges is that while the petitioner has been able to raise a substantial legal question regarding the source and scope of SECP???s authority, and has highlighted potential regulatory inconsistencies, the matter requires structured examination by the regulator itself within the framework of law rather than immediate drastic intervention. 13. Accordingly, we deem it appropriate to direct Respondent No.2 SECP to examine the issue afresh, specifically addressing the legal basis, if any, for permitting banking-related names or abbreviations for NBFCs/AMCs; consistency of such practice with the Companies Act, 2017, and its own regulatory guidelines; and whether such usage is capable of creating public confusion or misrepresentation. Respondent No.2 shall pass a reasoned order, after affording an opportunity of hearing to the petitioner, within a stipulated period. Respondent No.1, being the controlling Ministry, shall ensure that such exercise is undertaken in accordance with the law. The aforesaid exercise shall be undertaken within three weeks. 14. This petition, along with pending application(s), stands disposed of in the above terms.