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TNM Fact Check: The viral fwd on DMK, and Karachi Stock Exchange is false

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Is the Dravida Munnetra Kazhagam (DMK), a political party or a joint-stock company? Recently, a message that claimed that the DMK was a private limited company in India and one of the richest in the world, was doing the rounds on social media.

“I thank MK Stalin for showing interest in Karachi Stock Exchange. We are very happy to invite DMK Pvt Ltd to get listed in Karachi Stock Exchange. DMK is a private company in Tamil Nadu and one of the richest company in the world. DMK will get listed as Public Limited company in Pakistan. DMK as a overwhelming support from people of Pakistan and always stood for people of Pakistan. Recently DMK joined people of Pakistan to rejoice Chandrayaan’s failure. We are very happy to have DMK Ltd in our soil (sic),” read the message. It was also ‘signed’ by Imran Khan, the Prime Minister of Pakistan.

A simple search on the internet revealed that Karachi Stock Exchange ceased to exist a few years ago after it was merged with Islamabad and Lahore stock exchanges to form the Pakistan Stock Exchange in 2016. Hence, the claim that DMK has listed its shares on the Karachi Stock Exchange is false. Imran Khan, who supposedly signed the press release has also been mentioned as the President of Pakistan whereas he is the Prime Minister of Pakistan. 

DMK is a political party registered with the Election Commission of India (ECI) under Section 29A of the Representation of the Peoples Act, 1951. Political parties are not allowed to list their shares on stock exchanges. Only companies — public and private — are allowed to list their shares on stock exchanges. Hence, the claim that DMK is a private limited company is also untrue.

When TNM contacted A Saravanan, one of the spokespersons of DMK, he said that the allegations in the message were baseless and also went on to say that there is no need to acknowledge or qualify such baseless claims.  

Source: The News Minute