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KARACHI, Nov 27: The Sindh High Court allowed a bank defaulter, who had repaid the outstanding debt amid auction proceedings in execution of a decree against her, to approach the Supreme Court to recover her property.
Zebunnisa of Landwin Traders, sister in-law of Yunus Habib of Mehran Bank, owed Habib Bank Limited Rs16.7 million and the bank sued her for recovery of the amount when she defaulted on its repayment. The banking tribunal passed a decree against her and in favour of the bank. The Landwin assets came under the hammer in execution proceedings at the instance of the plaintiff bank. The highest bid of Rs13.5 million was accepted by the auctioneer. Ms Zebunnisa tendered a pay-order for the entire decretal amount of Rs16.7 million in the trial court through Mr Habib to extinguish her liability. The court did not accept the offer as, it held, that the auction had already been finalized. She went in appeal to the high court which declined to overturn the trial court’s ruling but gave her one week to approach the Supreme Court.
No further action, in the meanwhile, would be taken in respect of the disputed property.
Advocate Syed Zaki Mohammad pleaded the petitioner’s case before an SHC bench, comprising Chief Justice Syed Sayeed Ashhad and Justice Ghulam Rabbani.
BAIL GRANTED: The Sindh High Court on Wednesday granted bail to a banking offence accused in the sum of Rs6.94 million.
Petitioner Jahangir Malik submitted through his counsel, Rasheed A. Rizvi, that he had been maliciously implicated by the main accused, Zakir Bukhari, who tried to encash a pay-order from a bank on the authority of a faked letter from the customs department.
The investigation officer recorded 17 statements, none of which ascribed him any role in the offence. He approached the high court after rejection of his plea by the trial special court for offences in banks.
Accepting the bail plea, the court asked the accused to submit a surety for Rs6.94 million to the satisfaction of the nazir.
