MERCANTILE TRADERS (PVT.) LTD. versus STATE BANK OF PAKISTAN
Sections 27 (1) and 43B [as amended by the Banking Companies (Amendment) Ordinance (LVI of 1979)] Constitution of Pakistan (193), Article 185 (3), leave of appeal passed by the Supreme Court for consideration , Whether the High Court misinterprets the concept of banking business; whether it is a prerequisite that the members of the general public should be treated in connection with the banking business. Even if just borrowing money from family members can set up a banking business. Regardless of the definition of banking, the principle of Ejosodium Generase was applied. Can the bees be approved without giving any reason for the State Bank? And whether the State Bank failed to note that it was arbitrarily authorized under section 43B of the Banking Companies Ordinance, 1962.
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