Adil Gilani restrained from using TIP against JS Bank -- Karachi Stock Exchange

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Date Posted: 01:05:21 12/01/13 Sun
Author: Qirat Jibran
Subject: Adil Gilani restrained from using TIP against JS Bank

The Sindh High Court (SHC) has restrained Syed Adil Gilani from misusing the platform of Transparency International Pakistan (TIP) for damaging the reputation of JS Bank and issued contempt notices to them for June 12 on the issue of circulating false and libelous material against the bank despite the stay order, court officials said on Friday. SHC’s single bench, headed by Justice Azizur Rehman, issued the restraining orders on Thursday after preliminary hearing of a lawsuit and contempt application filed by the JS Bank against the TIP, its Adviser Syed Adil Gilani and Executive Director Saad Rashid. The plaintiff sued TIP and its officials for damaging the JS Bank’s business,its sponsors and subsidiaries and promoting the personal agenda of its business opponents and rivals.The application stated that Gilani, who was an employee/business associate of Aqeel Karim Dhedhi—a self-claimed rival of Jahangir Siddiqui- was abusing the name of the TIP to promote personal agenda to the detriment of JS Bank’s name and business. Plaintiff counsel Khalid Jawed Khan submitted that Adil Gilani claims to be advisory of TIP, which is anti-corruption watch dog. He submitted that Gilani was using the TIP platform to malign and damage the reputation of the JS Bank. The counsel of the bank further contended that Gilani being advisor of the TIP was not within his right to use the platform form aligning and damaging the reputation of the plaintiff and sought interim injunction against the defendants from doing so. Justice Rehman, after preliminary hearing of the application, issued notices to the TIP, Gilani and Rashidfor June 12th and till then restrained them from damaging the reputation of the plaintiff. The court also issued notices to the alleged contemns of the case on plaintiff’s application for violation of the court order and continuing with their malicious propaganda.

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