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KARACHI, Aug 4: The Sindh High Court struck down on Monday a State Bank (SBP) directive to the Habib Bank to freeze the accounts of Al Rasheed Trust for its suspected involvement in terrorist activities, and ordered the latter to encash the account-holder’s cheque for Rs400,000 dishonoured by it on Sept 25, 2001.
A division bench comprising Justices Sabihuddin Ahmed and Zia Perwez, however, observed in a 45-page judgment that the federal government would be free to initiate appropriate proceedings and ‘exercise any lawful power that may be available to it’ for dealing with the petitioner trust’s account.
