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2010 CLD 130

SONERI BANK LTD. vs DEWAN SUGAR MILLS LTD.

Citation2010 CLD 130
CourtSindh High Court
Case No.Suit No,B-80 and C.M.As Nos.5431, 5432 of 2009 C.M.As Nos.5431, 5432 of
Date2009-05-25
Judge(s)Gulzar Ahmed
ResultOrder accordingly

ORDER

1. ' GULZAR AHMAD, J.---1. Granted. This is an application under section 16 of the Financial Institutions (Recovery of Finances) Ordinance, 2001.

2. ' 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.

3. 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.

4. ' 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.

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