This file photo shows the Sindh High Court. — Wikimedia Commons/File KARACHI: The Pakistan Stock Exchange (PSX) and the Securities and Exchange Commission of Pakistan (SECP) on Tuesday informed the Sindh High Court that a petition filed against framing of regulations was not maintainable as they were not liable to invite public comments about criteria. They further contended that all regulations of PSX were statutory in nature and were framed under Securities Act, 2015 and amended from time to time and binding on the petitioner and all listed companies. The Pakistan Stock Brokers Association through its lawyer had moved the SHC against the PSX and the SECP and challenged a portion [4(i)] of futures eligibility criteria for selection of securities eligible for trading, which said the securities of companies not complying with following conditions to be ineligible: “No investigation/inquiry has been concluded against the company with adverse findings of mismanagement or the company has not obtained stay order from court against any inquiry/investigation initiated by the commission”.