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Petitioner: STATE BANK OF PAKISTAN VS Respondent: WALI MUHAMMAD and 3 others
Court Name: Sindh High Court Judge(s): Qaisar Ahmed Hamidi Title: STATE BANK OF PAKISTAN vs WALI MUHAMMAD and 3 others Case No.: Criminal Original No,115 of 1988 Date of Judgment:1989-08-17 Reported As: 1990 P Cr. L J 997 Result: Accused convicted
JUDGMENT
JUDGMENT ' The charge against the accused is that they as Directors of Messrs Moon International (Pvt.) Ltd. Karachi, on or about 10-7-1987 and 22-7-1987, not being a banking company and not being authorised in this behalf by any competent authority solicited deposits from public by making advertisements in daily `Jang' Karachi, in violation of the provisions of section 27-A, punishable under section 83(1-D) of the Banking Companies Ordinance, 1962. 2. It is the case of prosecution that accused Wali Muhammad, Mrs. Zahida, Delawar Shah and Javed Ahmed being the Directors of Messrs Moon International (Pvt.) Ltd., Karachi, inserted advertisements in daily `Tang' Karachi, dated 10th July, 1987 and 22nd July, 1987, thereby inviting deposits of money from public in violation of section 27-A of the Banking Companies Ordinance, 1962, and thus committed an offence punishable under section 83(1-D) of the said Ordinance. On 8-12-1988, a complaint for the said offence was filed before this Court which was brought on record on 18-12-1988. All the four accused were served and a charge for the said offence was read out to them in Court asking them as to whether they plead guilty or claim a trial. The accused have pleaded guilty and have prayed for mercy. According to Mr. G.H. Malik learned counsel for the complainant, no deposit was received by the accused and they inserted the advertisements only on two dates. The accused have also thrown themselves at the mercy of the Court, and as such, they are entitled to maximum leniency. The accused are accordingly convicted on their plea of guilt and taking into consideration the above circumstances, I sentence each of them to pay a fine of Rs,5,000 (Rs, five thousand) or in default to suffer S.I. For 15 days. The accused are directed to deposit the fine in the office of Nazir of this Court within one week from the date of this judgment. Accused convicted.