KARACHI (PR) - BankIslami Pakistan Limited through a special notification to Pakistan Stock Exchange has said that a two-member bench of the Sindh High Court has disposed of petitions of certain minority and majority shareholders of the defunct KASB Bank praying for setting aside it’s regulatory merger with Banklslami Pakistan.
The court has rejected the prayer for setting aside the regulatory merger of the defunct bank into BankIslami.
The court has however issued directions whereby the valuation of the defunct bank will be looked into again and if any material deviation is found, the shareholders will be compensated without any cost and liability to BankIslami, the letter said.