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China Securities Regularity Commission (CSRC) has imposed a fine of 900,000 RMP on Chinese firm Yabait due to its forgery and fraud.It is the largest amount of fine imposed under the Chinese law
LAHORE, (Pakistan Point News - 21st Dec, 2017 ):
China Securities Regularity Commission (CSRC) has imposed a
fine of 900,000 RMP on
Chinese firm Yabait due to its forgery and fraud.It is the largest amount of
fine imposed under the
Chinese law. Yabait is the
company that had claimed around four months ago that it had earned 2.5 billion rupees from
Multan Metro Bus and sent it to
China. Some circles in
Pakistan including a TV channel and
PTI had used the false claim for character assassination of
Chief Minister Punjab after the claim made by Yabait.
The Punjab Government held a detailed inquiry of the allegations and it was transpired that no company with the name of Yabait did not work in Multan Metro Bus. It was also verified that any of the project contractors had not acquired the services of any
company with this name. The
Punjab government gave a befitting reply to the campaign of a TV channel and
PTI. The
Chief Minister talked to the media and sent defamation notice to the TV channel whose reply was still awaited.