Axact: Shoaib Sheikh’s name placed on ECL

WEB DESK: Shoaib Sheikh, the cheif executive of Axact has been placed on the exit control list, Aaj News reported.

The FIA officials have requested that Sheikh’s name be placed in the ECL until investigation on the alleged fake degree scam is completed.

Meanwhile, the Sindh Revenue Board has issued a notice to the IT-based company for evasion of taxes. According to the SRB, Axact has not shown their income details for the past two years. Out of 6,000,00 share holders only two were cleared.

Tashfeen Niaz, chairman SRB will send three notices to the company in seven days. If there is no reply the board will begin their audit.