1. The Securities and Exchange Commission of Pakistan (SECP) on March 12, 2012 after conducting investigations, found M/s. Bahria Town (Private) Limited guilty of deceptive market practice and its Chief Executive, Directors and Company Secretary were penalised for fraudulent sale of Bahria Town Margalla Enclave and fined a total of Rs 1,000,000. The break-up of penalty imposed is as follows: Chief Executive/Director, Ahmed Ali Raza Malik Rs 500,000, Director Malik Riaz Hussain Rs 400,000, Director Bina Riaz Rs 50,000, and Company Secretary Shabbar Hussain Rs 50,000. The management of the Company was also directed in terms of section 472 of the Ordinance to clarify their position with regard to the aforesaid project in the print media within seven days positively. The order by the Executive Director (C&CD) SECP, Nazir Ahmed Shaheen was upheld on October 17, 2012, by the SECP which rejected the appeal filed by Bahria Town. 2.