Securities and Exchange Commission of Pakistan
NIC Building, Jinnah Avenue, Islamabad

Web Note on Biznas.com Pakistan (Private) Limited.

M/s. BizNas.com Pakistan (Pvt) Limited was incorporated on March 05, 2002 with main object of designing and developing computer software packages. The company has been carrying on multi-level marketing activities, offering public to purchase its membership card at US $99, and in return giving different packages of learning and facility of web hosting. The marketing strategy adopted by the company offers different referral programmes giving incentive of $1 to $5 to the person who refers the clients / members and the augmenting clientele provides the Company an opportunity to collect huge deposit of money from general public and pay commission to participants arranging new sales.

2.         The Commission has filed a petition in the High Court of Sindh for winding up of the Company under section 305 of the Companies Ordinance 1984 and no final order has yet been passed by the Honorable High Court of Sindh.