The Sindh High Court decided not to maintain petitions of Elahi Group in a case pertaining to the defaults of significant amounts of payments that were due to a local bank, saying that petitions were only relevant to “Banking Mohtasib”, which could try the case if petitioners would want to.
Constitutional Petitions in question are D-732 and D-733 of 2020 against the Federation of Pakistan, SBP, and BankIslami.
The respective petitions were filed by Danish Elahi and Shazia Arif who are sole proprietors of the Elahi Group of Companies and Zafar Agencies.
According to arguments from the petitioners it was stated that reporting was mala fide and illegal constituting an act of coercion to obtain payments from the parties that were not due and that the State Bank of Pakistan acted in dereliction of its statutory duty while its functionaries failed to apply their minds to the requests made by the petitioners.
The Sindh High Court dismissed both petitions by advising the petitioners to move “Banking Mohtasib” with the complaints.
Until any decision from Banking Mohtasib, Electronic Credit Information Bureau (eCIB) is allowed to continue reflecting the overdue payments, which stand at PKR 1.392 billion according to the plaints, against the accounts of the petitioners.
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