SUBJECT: IN PURSUANCE OF THE JUDGEMENT DATED: 17.04.2018 OF THE HON'BLE SINDH HIGH COURT, IN CP. NO. D-3007, 3076 & 4927 OF 2015.
Defunct KASB Bank Limited was merged with and into BankIslami Pakistan Limited under Section 47 of the Banking Companies Ordinance (BCO), 1962.
In compliance with the subject judgment,the shareholders/members of the defunct KASB, as on 27.04.2015, are invited to file their written objections to the valuation of the defunct KASB Bank as set out in the scheme of amalgamation. The valuation report of the auditor is posted on State Bank of Pakistan (SBP)’s website on the following link.
All the objections, in writing, should reach SBP within 15 days i.e. by or before 29.05.2018 at the following address:
Banking Policy & Regulations Department
State Bank of Pakistan
5th floor, SBP main building
I.I. Chundrigar Road
After receipt of the written objections, SBP will proceed in accordance with the judgment of the Sindh High Court.
Date 14 May, 2018