The Securities and Exchange Commission of Pakistan (SECP) has cautioned the public against unauthorized activities of Ms. Galaxy Typing Jobs (SMC-Private) Limited. The company has been involved in illegal deposit-taking by offering hefty monthly profits on fixed investments.
SECP has initiated winding up proceedings against this company under Section 301 read with Section 304 of the Companies Act 2017.
The commission had earlier issued a public warning against the company in newspapers and had referred the case to relevant investigation agencies.
SECP has come to know that the company is involved in fraudulent activities in the garb of investment with the intent of depriving the public of their hard-earned money.
The company is fraudulently claiming that it had been approved by the SECP. SECP has also clarified that it never granted any approval to the company for taking deposits from the public.
It has also been observed that the company is using the abbreviation of its name, i.e. GTJ (Private) Limited. The public is hereby informed that the SECP has not registered any company by the name of GTJ (Private) Limited.
The SECP has warned the public against falling prey to fraudulent activities such as Ponzi, pyramid and multilevel marketing schemes launched by various companies through advertising in the electronic and print media, websites, emails, and text messages.