LAHORE - The Lahore Stock Exchange has decided to expel M/s. Khalid Javed Securities (Pvt.) Limited and M/s. HSZ Securities (Pvt) Limited, corporate members of the exchange, on account of filing of winding up petition before the Lahore High Court, says a Press release. This decision was taken in a meeting of the Governing Board of Directors of the Exchange where a resolution for expulsions of M/s. Khalid Javed Securities (Pvt.) Limited, code # 04 and M/s. HSZ Securities code # 24 with immediate effect was unanimously adopted to safeguard investors interest. HSZ Securities & Khalid Javed Securities, corporate members of the exchange, had earlier passed a special resolution for the winding up of their respective companies and filed winding up petition before the Lahore High Court (LHC), Lahore. The said members were also in violation of Regulations 9 & 10 of the Regulations Governing the Registration of their Offices/Branch Offices. In consequence of this expulsion, all assets of HSZ Securities & Khalid Javed Securities, corporate members, have been forfeited by and vested in the Exchange as provided in the Memorandum & Articles of Association and Regulations of the Exchange. These assets will be dealt with in accordance with the Regulations of the Exchange or as per direction of Honble LHC, Lahore or any other Court/Regulatory Forum. The process of settlement of all investors claims against HSZ Securities & Khalid Javed Securities will be initiated once the LHC reaches a decision. However, the investors in their own interest are advised to file their claims against the defaulting member at the office of the Exchange.