{"id":413154,"date":"2024-06-16T09:08:54","date_gmt":"2024-06-16T04:08:54","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=413154"},"modified":"2024-06-16T09:08:54","modified_gmt":"2024-06-16T04:08:54","slug":"secp-warns-public-against-fraudulent-car-financing-scheme-by-etihad-auto-solutions","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/secp-warns-public-against-fraudulent-car-financing-scheme-by-etihad-auto-solutions\/","title":{"rendered":"SECP warns public against fraudulent car financing scheme by Etihad Auto Solutions"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nThe Securities &#038; Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of Etihad Auto Solutions for offering car financing schemes against an advance or down payment of 25% at extremely low markup rates.<br \/>\nThe sponsors of Etihad Auto Solutions have also registered another company under the Companies Act, 2017 with a similar name, i.e., Etihad Auto Solutions (Private) Limited in order to deceive the public.<br \/>\nThis fraudulent scheme is being promoted through https:\/\/etihadautosolutions.com\/. It is falsely claimed that Etihad Auto Solutions (Private) Limited is a non-banking finance company (NBFC) registered with SECP.<br \/>\nSECP hereby warns the public not to deal with M\/s Etihad Auto Solutions (Private) Limited and\/or Etihad Auto Solutions in any form or arrangement, as these entities are neither licensed by the SECP as NBFCs nor are they allowed to offer car financing services.<br \/>\nThe SECP has already initiated action against M\/s Etihad Auto Solutions (Private) Limited and Etihad Auto Solutions, which includes closing down their operations and referring the matter to relevant law enforcement agencies.<br \/>\nThe general public is once again informed that the \u201cCertificate of Incorporation\u201d of a company merely confirms its registration with SECP and does not allow the company to raise deposits or launch investment schemes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD The Securities &#038; Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of Etihad Auto Solutions for offering car financing schemes against an advance or down payment of 25% at extremely low markup rates. The sponsors of Etihad Auto Solutions have also registered another company under the Companies [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-413154","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP warns public against fraudulent car financing scheme by Etihad Auto Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/secp-warns-public-against-fraudulent-car-financing-scheme-by-etihad-auto-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP warns public against fraudulent car financing scheme by Etihad Auto Solutions\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD The Securities &#038; Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of Etihad Auto Solutions for offering car financing schemes against an advance or down payment of 25% at extremely low markup rates. 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