KARACHI: Securities & Exchange Commission of Pakistan (SECP) has appointed M/s Parker Russel AJS – Chartered Accountants as investigators for carrying out serious investigation in Hascol Petroleum Limited (HPL), a statement said.
The investigators will also carry out forensic audit of the company in terms of section 258(1) of Companies Act 2017, HPL informed Pakistan Stock Exchange (PSX) on Monday through a notice.
SECP appointed the chartered accountants after a parliamentary panel asked for forensic audit of the accounts of the company, which allegedly incurred huge financial losses that according to the restructuring plan were more than Rs50 billion.
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