BSD
Circular Letter No. 25 |
September 22, 2000 |
The
Chief Executives,
All
Banks/NBFIs,
Dear
Sirs,
CANCELLATION
OF LICENCE OF INDUS BANK LTD
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This is to notify for the information of all banks/NBFls that
exercising the powers vested in him under the Banking Companies
Ordinance, 1962, the Governor, State Bank of Pakistan has cancelled
the Licence of lndus Bank Limited. Furthermore, the Honourable
High Court Peshawar vide order dated 22nd September, 2000 has
directed subject to notice for 9-10-2000 and till further order
that all the authorization and powers presently exercised and
vested in the Chairman and all other officials of the lndus
Bank, are suspended/cancelled and Mr. M. Aslam Sethi has been
appointed as a Provisional Manager who shall take into his possession/custody
and under his control all the record of the bank consisting
of books, property, effects and actionable claims, etc. belonging
to the bank.
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Yours
faithfully,
(Jameel Ahmad)
Additional Director |
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