The Sindh High Court (SHC) on Friday revoked the stay orders of a television channel owned by Axact, the IT company under investigation for running a global fake degree empire.
According to reports, a two-member bench issued its verdict regarding the case of security clearance to Axact’s TV channel, Bol.
Revoking its stay order, the court ruled that all four directors of Axact – Shoaib Sheikh, Waqas Atiq, Sarwat Bashir and Aisha Sheikh – must get fresh security clearance.
Axact had inducted four of its officials as ‘directors’ and ‘stakeholders’ into the board of directors after acquiring a TV licence that was originally issued to Labbaik TV in 2013, even though the Ministry of Interior had not given security clearance to the directors.
The ministry’s decision was later challenged by Shoaib Sheikh, who got court’s stay over security clearance.
On Friday, the court revoked the stay order on ground of changes in the composition of board of directors. The court noted that government’s security clearance was necessary in case of any change in the company’s board members.
