Bank Islami Pakistan Limited (BIPL) and Elahi Group of Companies (EGC)/Zafar Agencies (ZA) have filed a compromise agreement in the Sindh High Court through which all liabilities will be settled and full closure and withdrawal of all pending complaints and litigation has been agreed on a no-fault basis between the parties. Accordingly, the matter stands fully resolved.
Both parties express their disappointment that a commercial dispute got dragged in with the law enforcement agencies, and both parties shall make concerted efforts to facilitate each other further strengthen their relations.
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