Karachi: The Pakistan Stock Exchange (PSX) announced the forwarding of SME Leasing Limited's (SLL) case to the Securities and Exchange Commission of Pakistan (SECP) for winding-up proceedings. This decision follows the company's failure to comply with regulatory requirements, including the rectification of non-compliance issues and adherence to a compulsory buy-back directive.

The PSX had previously issued a notice on January 29, 2025, under Notice No. PSX/N-129, mandating the sponsors and majority shareholders of SLL to execute a compulsory buy-back. This directive was necessitated by the cancellation of SLL's leasing license by the SECP and the company's ongoing failure to address non-compliance with Clause 5.11.1.(h) of the PSX Regulations.

According to information available from the Pakistan Stock Exchange (PSX), SLL was granted until April 28, 2025, to resolve the non-compliance issues or align with the buy-back requirements. However, the company did not meet the stipulated deadline, prompting the exchange to escalate the matter.

In accordance with Clause 5.11.3(g) of the PSX Regulations, the exchange is now referring the case to the SECP to initiate winding-up proceedings against SLL under the Companies Act, 2017. This move marks a significant development in the designated market category, as regulatory bodies look to enforce compliance and uphold market integrity.