File Photo: SECP Chairman Zafar Hijazi 

ISLAMABAD: In a statement, SECP Chairman Zafar Hijazi said he had explained his position to the FIA team which had also been reflected to some extent in the story by Mr Ansar Abbasi.

?Since inquiry proceedings are continuing, I am not supposed to give any version publicly. Once the inquiry is complete, I will definitely explain my position publicly to my countrymen,? Hijazi said in a statement released on Friday.

According to the SECP chairman, anti-money laundering proceedings and the proceeding under section 263 of the Companies Ordinance 1984 are two entirely different matters and should not be mixed. He added that the head of any orginsation cannot be supposed to be aware of deficiencies or short comings in a particular case file nor can he be considered responsible for any such deficiency or wrong doing.

?If this precedent of allowing subordinates to apportion blame for their omissions or wrong doings is allowed to be set, every subordinate officer may attribute his failings to the heads of organization,? Hijazi said.

An article published in The News revealed that the Panama Case JIT?s allegation regarding record tampering and backdated noting and signing of SECP?s 2013 documents of Chaudhry Sugar Mills probe in 2016 had been proven correct.

According to the article, informed sources said that heads may roll as the SECP officials though confirm that the probe against Sharifs sugar mills was actually dropped in 2013, in one of the two files of the SECP on the subject the entry of the closure of the Chaudhry Sugar Mill was signed backdated in June 2016.