A full bench of the Supreme Court headed by Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry will hear the appeal State Bank of Pakistan filed against the decision of Sindh High Court regarding Indus Bank Limited case on Thursday.
According to cause list issued by the Fixture Branch of the apex court, other members of the bench are Justice M Javed Buttar and Justice Tassadduq Hussain Jillani.
According to the case, Indus Bank Limited Chairman Khurshid Suhail also remained in jail for a period of two years after the action taken by National Accountability Bureau (NAB) and the State Bank of Pakistan in September 2000.
The State Bank of Pakistan cancelled license of the Indus Bank Limited which has 14 branched in various cities of the country due to various allegations against the bank including mishandling of accounts of depositors. The Sindh High Court passed orders and directed State Bank of Pakistan to restore the license of the Indus Bank Limited which were challenged by the State Bank of Pakistan in the Supreme Court.
The SBP filed an appeal in the Supreme Court against the decision of the SHC. It may be recalled here that IBL having 14 branches in various cities of the country possessed rupees 750 million along with liability of rupees 600 million of about 50,000 depositors.
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