37/2013 Suit.B BANK ISLAMI PAKISTAN LTD (Plaintiff) V/S FATANI IMPEX (PVT) LTD (Defendant)

Sindh High Court2016

Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author)

37/2013 Suit.B BANK ISLAMI PAKISTAN LTD (Plaintiff) V/S FATANI IMPEX (PVT) LTD (Defendant) Sindh High Court

Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author) Order Date: 25-MAR-16

Insofar as circular of the State Bank of Pakistan, as relied upon by defendant No.5, is concerned, it only caters for a situation where such personal guarantee for minor shareholder was not obtained. It is not the situation here where a minor shareholder of the company is insisted upon to submit a personal guarantee. As a partner/director he stood guarantor and such personal guarantee is available on record which is continued to be enforced. Hence, I do not consider the arguments of learned counsel for the defendant No.5 sufficient for the grant of leave as by raising such arguments, no substantial question of law and fact has been raised. Advocates: Ijaz Ahmed Zahid(ADVO-11135-SBC-KHI),Syed Aijaz Hussain Shirazi(ADVO-8688-SBC-KHI),Muhammad Irfan Haroon(ADVO-3913-SBC-KHI)

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37/2013 Suit.B BANK ISLAMI PAKISTAN LTD (Plaintiff) V/S FATANI IMPEX (PVT) LTD (Defendant)

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