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I.T.AS. NOS.3027/LB AND 3028/LB OF 1996, DECIDED ON 19TH APRIL, 1999. versus I.T.AS. NOS.3027/LB AND 3028/LB OF 1996, DECIDED ON 19TH APRIL, 1999.

Ordinance of Banking Companies 1962 Sections 5 (b) and 87 Section RO No. 585 (1) / 87, Dated 13 7 1987, Para 5 (xx) Banking Company Finance Company Refund by Check, Draft, Order and or Otherwise the expression is worth withdrawing. (B) The Ordinance of the Banking Companies, 62 ofv of, deemed an Account Current or Saving and Account Holder reserves the right to withdraw or withdraw the money gradually, even if the investment is refunded in a single transaction. The right to take. In the nature of the current and savings account in the finance company neither the depository account was opened with the finance company nor was there any way for the depositor to withdraw or withdraw the money slowly or at all. Submission of certificates at maturity or before maturity but the total investment / deposit total was in the form of mutual investment In such background terms, checks, drafts, returns by order otherwise, Banking Companies Ordinance, 1962 The ordinance of banking companies, included in section 87 of 1962, did not matter to section 87 of 1962, provided that no person other than the banking company, State Bank of Pakistan, National Bank of Pakistan or any other banking institution was notified. Is. Shall, by the Federal Government, specifically declare that the Investment Finance Company shall, from the public deposit refunded by Check Para 5 (XX) of section RO No. 585 (1) / 87 of 1987, 1987 This was not allowed. In the banking business and in this regard, they will neither issue check books nor accept deposits; approval of deposits so far, single lending and investment deposits for deposits. law firms from Tank lawyer