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STATE BANK OF PAKISTAN vs BANKERS EQUITY LIMITED (BEL) S — 2022 CLD 775 KARACHI-HIGH-COURT-SINDH

Case information

Citation
2022 CLD 775 KARACHI-HIGH-COURT-SINDH
Court
Sindh High Court
Year
2022
Reporter
CLD
Parties
STATE BANK OF PAKISTAN vs BANKERS EQUITY LIMITED (BEL) S
Subject matter
Criminal
Provisions referred to
S. 83---C; S. 561-A---Q; S. 83; Criminal Procedure Code (V of 1898); Banking Companies Ordinance

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

STATE BANK OF PAKISTAN VS BANKERS EQUITY LIMITED (BEL) S. 83---Criminal Procedure Code (V of 1898), S. 561-A---Quashing of proceedings---Scope---Accused sought quashing of proceedings initiated on a complaint filed by State of Bank of Pakistan (SBP) under subsections (1) and (1-A) of S. 83 of Banking Companies Ordinance, 1962---Accused person's involvement in alleged misreporting could only be determined after the evidence was led at trial---Prima facie it appeared from a tentative assessment of the record that the company was short on its liquidity requirement---Company had made several promises and representations to the SBP for raising its liquidity---Accused was the financial head at that time and had confirmed that a subordinated loan had been received---Loan was also reflected in the company's financial statement---Such had turned out to be wrong---Accused did have a case to answer and the charge was not groundless nor was it certain that a conviction could not take place---Whether there was mens rea or not could only be determined after analyzing the available evidence---When the Single Judge of High Court after holding a hearing had already ordered that a triable case was made out and that a charge should be framed, it was not open to the Bench as a Single Judge to sit over the order of the predecessor Single Judge---Division Bench observed that it did not have jurisdiction to adjudicate a plea for quashing the proceedings---Application was dismissed, in circumstances.

Other judgments reported in 2022 CLD

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