Pakistan, Sept. 1 -- An inspection and subsequent actions including initiation of investigation proceedings by the Securities and Exchange Commission of Pakistan (SECP) into Unity Foods Limited has led to the registration of a criminal case by the Federal Investigation (FIA) over alleged misuse of shareholders' and company funds, falsification of accounts and other serious financial irregularities.

Unity Foods is a public listed company on the Pakistan Stock Exchange (PSX) and has raised funds from public shareholders, said a press release issued by the SECP on Monday. The case assumes particular significance from an investor-protection perspective as the alleged irregularities include the possible diversion of funds specifically raised ...