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CIRCULARS


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:

 

M/s. Manhill Advertising & Marketing (Pvt.) Ltd. Karachi(Reported Dues Rs. 81,431,289/-)

 10,000,000.00

1st Installment at the time of Restoration

 10,000,000.00

2nd Installment after One month of Restoration

   4,000,000.00

Monthly Installment till the Clearance of Dues

 

 

 M/s. Manhattan Pakistan (Pvt.) Ltd. (Reported Dues Rs. 9,248,594/-)

   8,897,372.00

Request for 10 days Extension

 

 

 M/s. Midas (Pvt.) Ltd. Lahore (Reported Dues Rs. 46,427,163/-)

   7,000,000.00

Cheque date 23.02.2010

   7,000,000.00

Cheque date 24.02.2010

   6,938,049.00

Cheque date 25.02.2010

 

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