JS clears fog surrounding events at AGM

Will initiate appropriate legal action against perpetrators.

Jahangir Siddiqui and Company (JS) clears the ambiguity surrounding the accounts of events circulating of its annual general meeting (AGM) on April 5 at a local hotel in Karachi. The company said in a statement that it was unfortunate that the stories circulating in the media did not take JS’s view for clarification.

Moreover, on the conduct of Haji Ghani Osman, the CEO of Ghani Osman Securities, and the largest shareholder in Al-Abbas Sugar Mills and Shunaid Qureshi, CEO of Al-Abbas Sugar Mills, JS Group was initiating appropriate legal actions against them, said a press statement by JS Group on Tuesday.

Stating the unfolding of events, JS said that at 10:40 AM on April 5, a mob led by Qureshi entered the hotel and proceeded to the area outside the company’s meeting room, where JS Group’s registrar was registering shareholders.

When asked for his original national identity card (NIC) and folio number by the share registrar, Qureshi refused to provide them.

Upon checking the shareholder list, it was found that Qureshi was not a shareholder of the company.

Therefore, Qureshi was considered to be trespassing on the company’s meeting and his attendance was completely unauthorised.

The mob barged into the meeting approximately thirty minutes before the meeting room was due to be opened.

As a result of serious disturbances created by the mob and property damage, the chief security officer of the hotel called the Saddar Town police station. The police registered a First Investigation Report (FIR) against various individuals accompanying Osman and Qureshi.

Published in The Express Tribune, April 10^th, 2013.

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