LAHORE (PPI) - The Lahore Stock Exchange has decided to expel M/s. Wasi Securities (SMC-Pvt.) Limited, corporate member of the Exchange on account of filing of winding up petition before the Lahore High Court. This decision was taken in a meeting of the Governing Board of Directors of the Exchange where a resolution for expulsion of M/s. Wasi Securities (SMC-Pvt.) Limited, code # 103 with immediate effect was unanimously adopted to safeguard investors interest. Wasi Securities, corporate member of the Exchange had earlier passed a special resolution for the winding up of their respective companies and filed winding up petition before the Lahore High Court (LHC), Lahore. The said member has been expelled on grounds of provisions of Regulations 2(A)(1)(d) & 2(A)(1)(i) of the General Rules & Regulations of the Exchange. In consequence of this expulsion, all assets of Wasi Securities, corporate member, has been forfeited by and vested in the Exchange as provided in the Memorandum & Articles of Association and Regulations of the Exchange. These assets will be dealt with in accordance with the Regulations of the Exchange or as per direction of Honble LHC, Lahore or any other Court/Regulatory Forum.