Law: Banking Companies Ordinance, 1962

Section: 82,82-A,82-B

Law: Constitution of Pakistan, 1973

Section: 199

Banking Companies Ordinance (LVII of 1962)--- ----Ss. 82, 82-A, 82-B---Constitution of Pakistan, Art. 199---Constitutional petition---Mal-administration---Fraud committed by bank manager---Petitioner company was aggrieved of non-payment of interest on its investment---Banking Mohtasib decided the matter in favour of petitioner company and directed the Bank to make payment in question---Appellate Authority set aside order passed by Banking Mohtasib---Validity---Fraud was committed involving branch manager of the Bank along with others---Manager was a representative/agent of the Bank and his actions/inactions had made Bank vicariously liable for such actions/inactions---High Court set aside order passed by Appellate Authority as facts and matter on the basis of S. 82 of Banking Companies Ordinance, 1962, were not clearly examined including jurisdiction/power of Banking Mohtasib to give directions---High Court remanded the matter to Appellate Authority to re-examine the matter--- Constitutional petition was allowed accordingly. Messrs Muslim Commercial Bank Limited through Lawful Authority v. Federation of Pakistan through Director (Legal-II), Presidents Secretariat and 2 others 2020 CLD 829; Shafaatullah Quershi v. Federation of Pakistan PLD 2001 SC 142; Sultan Hassan Khan and 2 others v. Mst. Nasim Jahan and 17 others 1994 SCMR 150; Muhammad Siddique v. Federation of Pakistan through Secretary of Law, Justice and Human Rights Division, Islamabad and 3 others 2005 YLR 2859; United Bank Limited v. Federation of Pakistan and others PLD 2018 Lah. 322; Muhammad Aaamir Saeed v. Messrs United Bank Limited through President and 2 others 2008 CLD 1324; Muhammad Moin v. State Bank of Pakistan and others 2009 CLD 899 and Soneri Bank Limited through Constituted Attorneys/Authorized Officers and another v. Messrs Pak Land Corporation (Pvt.) Limited through CEO and 4 others 2013 CLD 1756 ref. Date of hearing: 8th June, 2022. JUDGMENT AAMER FAROOQ, J.---Fauji Fertilizers Company Limited (FFC) created FFCL Management Staff Pension Fund Trust (the petitioner); it invested an amount of Rs.100 million by way of term deposit with Faisal Bank Limited (respondent No.2) through letter…

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