| GEO Business|
| LSE ‘floor’ stays on LHC orders|
| Updated at: 1219 PST, Monday, December 15, 2008|
LAHORE: Lahore High Court (LHC), declaring the Securities and Exchange Commission of Pakistan (SECP) decision defunct, ordered retaining the Lahore Stock Exchange (LSE) index ‘floor’, however, in violation of LHC verdict, LSE opened up today, but the trading failed to pick up.
It was decided to keep the LSE trading activity closed in view of the LHC decision for retaining the index ‘floor’ and, meanwhile, the SECP officials have been summoned at 10.30 A.M. this morning.
Barrister Shazeb Masoood told Geo News that the trading activity was underway despite the copies of the LHC orders were sent to the LSE management and SECP apprising of the LHC verdict and even then not keeping LSE closed tantamount to contempt of court.