ORDER HAMID ALI MIRZA, J.-- This civil petition for leave to appeal is directed against judgment dated 8.4.2004 in constitution petition No. D-1368 of 2003 passed by learned Division Bench of the High Court of Sindh, Karachi, whereby the said petition was disposed of with the direction to the petitioner to pay the respondent, value of the certificates with accrued profit thereon.
2. Brief facts of the case are that respondent Maqsood Esbhani filed constitution petition before the High Court of Sindh, Karachi, wherein he prayed that the petitioner-Central Directorate of National Savings, be directed to pay the value of 18 Special Saving Certificates each of face value of Rs. One lac, total amounting to Rupees eighteen lac along with accrued interest thereon. After hearing the parties learned High Court passed the Impugned order, the relevant portion of which reads as under:- "Admittedly, once the bearer certificates are lost one cannot have any proof unless as a prudent man a copy thereof were made, It is also admitted that the petitioner soon after the theft of bearer certificate in 1994 till date non other than the petitioner is the claimant of the said certificates.
In these circumstances by following the dictum of the Supreme Court referred to above, we direct the Respondent to pay directly to the petitioner value of the certificates with accrued profit thereon.
Before payment of the value and the profit the Respondent will issue public notice inviting any objection with regard to the encashment in widely circulated two newspapers at the cost of the petitioner. The Respondent may obtain security for a period of one year and the indemnity bond for i.e years from the petitioner."
3. We have heard learned Deputy Attorney General on behalf of the petitioner and perused the record.
4. Learned D.A.G, submits that the Bearer Certificates which the respondent could not produce before the petitioner is hot entitled to the return of the face value of the certificates as in case any other person produces the same, the petitioner would be legally bound to pay face value of the said certificates, therefore the impugned judgment cannot be sustained.
5. We do not find merit and substance in the said contention.
6. Necessary safe guards have been provided to the petitioner whereby the respondent has been directed to get I published a public notice in two newspapers with regard to encashment of the stolen Bearer Certificates said above and further the petitioner was directed to obtain security for a period of one year and Indemnity bond for i.e years from the respondent to the extent of the amount of the Bearer Certificates, therefore apprehension of the petitioner has no merit and substance, It may further be observed that the respondent had got registered F.I.R, on 14.10.1994 and since then as per statement of learned D.A.G, none has approached the petitioner for encashment of the said certificates so far. Ten years have passed but none has claimed the said amount.
7. In the circumstances, we find there is no merit in this petition, hence leave to appeal is declined and the petition is dismissed.