Schedule of Payment
Ref: APNS/2010/49 February 18, 2010
To: ALL MEMBER PUBLICATIONS.
Sub: SCHEDULE OF PAYMENT BY
1. M/s. Manhill Advertising & Markeing (Pvt.) Ltd.
2. M/s. Manhattan Pakistan (Pvt) Ltd
3. M/s. Midas (Pvt) Ltd Lahore
Dear Sir,
We have to inform you that M/s. Manhill Advertising & Marketing (Pvt.) Ltd., (Suspended Agency), M/s. Manhattan Pakistan (Pvt.) Ltd and M/s. Midas (Pvt) Ltd Lahore have provided following schedule of payment towards settlement of reported dues of Member Publications:
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M/s. Manhill Advertising & Marketing (Pvt.) Ltd. Karachi(Reported Dues Rs. 81,431,289/-)
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10,000,000.00
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1st Installment at the time of Restoration
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10,000,000.00
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2nd Installment after One month of Restoration
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4,000,000.00
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Monthly Installment till the Clearance of Dues
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M/s. Manhattan Pakistan (Pvt.) Ltd. (Reported Dues Rs. 9,248,594/-)
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8,897,372.00
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Request for 10 days Extension
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M/s. Midas (Pvt.) Ltd. Lahore (Reported Dues Rs. 46,427,163/-)
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7,000,000.00
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Cheque date 23.02.2010
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7,000,000.00
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Cheque date 24.02.2010
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6,938,049.00
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Cheque date 25.02.2010
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The APNS clearance rules provide the consent of the major claimants to accept the default restructuring of a suspended agency. We therefore, request you to kindly inform us your acceptance / rejection of the above schedule by 1:00 p.m. on February 20, 2010 through fax or e-mail. On receipt of response from the reporting publications, the decision will be taken as per rules of the Society.
Thanking you,
Yours faithfully,
( Dr. Jabbar Khattak )
Secretary General
APNS
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