78/2010 Suit.B Haji Abdul Razzak (Plaintiff) V/S Faisal Bank Limited (Defendant)
Sindh High Court
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author)
Order Date: 02-FEB-17
Prima facie it seems that the MCB has filed Suit No.1674 of 1997 only for recovery of US $.51,066,208/-. Both counsel have also relied upon pleadings of Suit No.1674 of 1997 As far as this particular amount i.e. US $.26 Million is concerned, for which all rights claimed to have been transferred to M/s Al-Faisal Investment Bank Limited, MCB from its pleadings has shown no interest and it is only in pursuit of its claim of recovery that this amount was sought to be attached and it is on consideration of above facts and circumstances that this amount of US dollars was ordered to be released subject to execution of guarantee in terms as stated in the order of the Honble Supreme Court. After execution of the guarantee Al-Faisal Investment Bank got payments of US $.21 Million on 09.03.1998 and of US $.5 Million on 11.03.1998.Full judgment text for this case is not yet available on Pakistan Law Reports. Check the official Sindh High Court case law portal for the complete order.
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