KARACHI: Bank Islami Pakistan Limited (BIPL) and Elahi Group of Companies (EGC)/Zafar Agencies (ZA) have filed a compromise agreement in the Sindh High Court through which all liabilities will be settled and full closure and withdrawal of all pending complaints and litigation has been agreed on a no-fault basis between the parties; accordingly, the matter stands fully resolved.

According to an announcement made by Elahi Group file compromise on Tuesday, both parties expressed their disappointment that a commercial dispute got dragged in with the Law Enforcement Agencies; and both parties shall make concerted efforts to facilitate each other and further strengthen their relations.

Copyright Business Recorder, 2021