Pakistan thrash India by 68 runs in World Championship of Legends tournament 

Team Pakistan poses for a photo before their first match of the World Championship of Legends tournament on July 3, 2024. (Photo courtesy: Pakistan Champions/ Facebook)
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Updated 07 July 2024
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Pakistan thrash India by 68 runs in World Championship of Legends tournament 

  • Half-centuries by Sharjeel Khan, Kamran Akmal inspire Pakistan to 68-run win over India
  • World Championship of Legends is a T20 cricket tournament that features retired cricketers

ISLAMABAD: Inspired by quickfire half-centuries from Kamran Akmal and Sharjeel Khan, Pakistan Champions defeated arch-rivals India by 68 runs in the World Championship of Legends cricket tournament at Edgbaston on Saturday. 

The World Championship of Legends tournament features retired cricketers taking part in a T20 cricket tournament. This year’s edition features teams from Pakistan, India, England, Australia, West Indies and South Africa. 

Pakistan batted first in the clash between the two sides at Edgbaston, scoring an impressive 243/4 at the end of their 20 overs. India were able to score only 175/9 from their 20 overs, falling 68 runs short of the target. 

“People are happy so we are happy at the end of the day,” Pakistan’s Shahid Afridi told reporters after the match. 

When asked about Pakistan’s mammoth total, Afridi remarked:

“We thought about breaking all records today.”

Former Pakistan wicketkeeper Akmal scored 77 runs from 40 balls while left-handed batter Sharjeel Khan scored 72 runs from 30 balls. Middle-order batter Sohaib Maqsood scored 51 from 26 balls while Shoaib Maik pitched in with an impressive 25-run score from 18 balls. 

India’s bowlers RP Singh, Anureet Singh, Dhawal Kulkarni and Pawan Negi took one wicket each.

Meanwhile, Pakistan’s Wahab Riaz and Shoaib Malik returned figures of 3/22 and 3/38 from their overs while pacers Sohail Tanvir and Sohail Khan grabbed one wicket each. 

Suresh Raina top-scored from India with 52 runs from 40 balls while opening batter Ambati Rayudu scored 39 runs from 23 balls. 

With the latest win, Pakistan remain at the top of the table with three victories while Australia remain at number 2 and India at number three with two wins each and a loss. 

South Africa sit at the bottom of the table with two losses and the lowest run-rate of -5.296. 

Squads:

Pakistan: Kamran Akmal, Misbah-ul-Haq, Younis Khan (c), Umar Akmal, Sohaib Maqsood, Shoaib Malik, Sharjeel Khan, Abdul Razzaq, Shahid Afridi, Mohammad Hafeez, Aamer Yamin, Wahab Riaz, Saeed Ajmal, Sohail Tanveer, Sohail Khan, Tanveer Ahmed

India: Robin Uthappa, Naman Ojha(w), Suresh Raina, Yuvraj Singh(c), Gurkeerat Singh Mann, Irfan Pathan, Yusuf Pathan, Vinay Kumar, HarbHajjan Singh, Dhawal Kulkarni, Rahul Shukla, RP Singh, Saurabh Tiwary, Anureet Singh, Rahul Sharma, Ambati Rayudu, Pawan Negi


Pakistan regulator amends law to facilitate capital raising by listed companies

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Pakistan regulator amends law to facilitate capital raising by listed companies

  • The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
  • Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,

The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.

This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.

“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.

The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.

The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.

“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.

“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”

The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.