The Supreme Court on Thursday sought a fresh report from the counsel for Bank of the Punjab on Rs 38 billion restructured accounts in 10 days. Resuming the hearing of multi-billion rupee Bank of Punjab scam case a three-judge bench led by Chief Justice Iftikhar Muhammad Chaudhry was informed that the Bank had recovered Rs 18 billion.
At the outset of hearing, the bench expressed annoyance over bank's failure to file a report in pursuance of a court order. Rashdin Nawaz Kasuri, the counsel for the bank, apprised the bench that due to general adjournment of the Bank's lawyer, Anwar Mansoor, the required information was not submitted before the court.
Naeemuddin Khan, President of the bank, was also present in the court. The bench remarked that the Bank should negotiate the fee to be paid to the Chairman Salvage Committee, former Justice Jamshed Ali Shah, on its own. The bench was apprised that the Chairman had demanded 1 percent of the total recovered amount. The hearing of matter was adjourned for ten days.
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