The order by Executive Director (C&CD) SECP, Nazir Ahmed Shaheen on account was upheld on October 17 by the SECP which rejected the appeal filed by Bahria Town against orders of Executive Director (C&CD) ECP, of March 12, 2012. The Chairman CDA was requested to take action as per the following SECP findings: 'SECP had found Bahria Town (pvt) 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 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. SECP had started investigations against Bahria Town on the directives of CJP Iftikhar Muhammad Chaudhry.