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 (1973), 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. Whether the State Bank's order could have been approved without giving any reason: and whether the State Bank failed to note that it was granted discretion under Section 43B of the Ordinance of the Banking Companies, 1962.
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