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Initializing Secure Chambers
Your Digital Lawyer, Always on Duty
Initializing Secure Chambers
Petitioner: SONERI BANK LTD. VS Respondent: DEWAN SUGAR MILLS LTD.
Court Name: Sindh High Court Judge(s): Gulzar Ahmed Title: SONERI BANK LTD. vs DEWAN SUGAR MILLS LTD. Case No.:Suit No,B-80 and C.M.As Nos.5431, 5432 of 2009 C.M.As Nos.5431, 5432 of
2009 M.As Nos.5431, 5432 of 2009 Date of Judgment:2009-05-25 Reported As: 2010 CLD 130 Result: Order accordingly Judgment ORDER ' GULZAR AHMAD, J.---1. Granted. This is an application under section 16 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. ' It is inter alia, contended by the learned counsel that the defendant has obtained finance facility in the sum of Rs,213,977,719 and one of the security given by the defendant was pledged of stock of 12750 Metric ton of refined sugar said to be lying in the godown of the defendant but in custody of the Muqadam' of the Bank. Learned counsel states that the plaintiff apprehends that the pledged stock may be interfered with by the defendant. Issue notice to the defendant for 29-5-2009. ' In the meanwhile, Nazir is appointed as Commissioner to make inventory of the pledged stock lying at the go down of the defendant and to submit report. Nazir's fee in the sum of Rs,100,000 to be deposited by the plaintiff in advance. The Nazir will submit his report within a period of 15 days.