MESSRS UNIVERSAL LEASING CORPORATION LTD. versus STATE BANK OF PAKISTAN
Constitution of Pakistan 1973 Article 41 Constitution of Pakistan (1973), Article 199 Constitutional application issued by the State Bank of Pakistan in exercise of powers under section 41 of the Ordinance of Banking Companies Banking Companies, 1962 issued by the State Bank of Pakistan The legality directive was neither intended to preclude the affairs of any banking company that is harmful to the interest of the collector, or to prejudice the interest of a banking company that provided all the commercial banks. , Nor was it issued to properly manage a banking company dispute. The applicant's position was that the instructions issued by the State Bank of Pakistan were against the provisions of 5:41 of Ordinance of Banking Companies, 1962, on the basis of which the interest of the public could be directed. I was not told how that interest was in the public interest but rather that it was directly against the interest of the collector, such a directive was a violation of section 41 of the Ordinance of Banking Companies, 19 62 State Bank of Pakistan. The directive issued by them was without legal authority and was also set aside in the circumstances.
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