PESHAWAR, June 5: The company judge of the Peshawar High Court, Justice Jehanzeb Raheem, on Monday dismissed a petition filed by the Security of Exchange Commission of Pakistan (SECP) seeking liquidation of the Islamic Investment Bank of Pakistan (IIBP).

Justice Jehanzeb Raheem pronounced the order after the SECP failed to deposit Rs500,000 which the judge had directed it to do during previous hearings for publication of advertisements for the winding up of the bank.

At present, the bank is supervised by a provisional manager, Justice (Retd) J. D. Akberjee, appointed by the court.

Advocate Muzamil Khan appeared for the depositors and advocate M. Sardar Khan represented the SECP.