| Citation(s) |
|---|
| 1992 SLG 695 1992 SLD 695 = 1992 PLD 462 |
Writ Petition No.4607 of 1992, decided on 25th May, 1992.
Sh. Riaz Ahmad Raja Afrasiab Iaan, Munir A. Shaikh, TanvirAhmed IKhan and Malik Muhammad Qayyum, JJ
NATIONAL INDUSTRIAL COOPERATIVE CREDIT CORPORATION LTD. and another--Petitioners
VERSUS
PROVINCE OF PUNJAB/GOVERNMENT OF PUNJAB, through Secretary, Cooperative Department and another--Respondents
Law:
Section:
SH. RIAZ AHMAD, -J.---The uproar with respect to the financial debacle of the finance companies in the country and in particular about Taj Company had not yet subsided when the glamour about the financial scandal in the Cooperative Societies came to earth. Obviously, such news of scandals harassed the small depositors, and there was a run of the small depositors upon the Cooperative Societies to withdraw their money. The situation was so worsened that the Government had to intervene, and particularly, the factum of seeking loans by the industrialists tycoons of this country led the Federal Government to constitute a Commission headed by a Judge of the Supreme Court and two Judges of the High Court to examine the management, and working ete. of the Cooperative Societies in Punjab.
The Commission was constituted under the Pakistan Commissions of Enquiry Act, 1956 (VI of 1956) and