Additional District and Sessions Judge Malik Ali Raza Awan on Monday dismissed an application filed by the Pakistan Engineering Company (PECO) challenging the impugned order of the civil court which had issued the stay order against cancellation of agreement between PECO and its sole distributor Pump Well Company limited.
According to details, Pump Well Company had filed a civil suit against PECO through its counsel Syed Muhammad Shah submitting that an agreement was executed between both the parties on April 1, 2010 for a period of five years, the plaintiff being the exclusive distributor for the entire territory of Pakistan, for promoting sales of products manufactured by the PECO. While on August 16, 2010 PECO while terminating the agreement published an advertisement in the newspapers inviting new distributors for the promotion of its products.
The civil court issued a stay order on said application while directing PECO to act upon the standing agreement with Pump Well Company (partnership concern) and to restrain from agreement with any new party for the appointment of a new distributor.
Later, PECO filed an application in the sessions court challenging the impugned order of the civil court. The court, after hearing the arguments of both parties, dismissed the application while directing PECO to maintain the agreement till decision of the main appeal.
REMAND EXTENDED: An accountability court on Monday extended the judicial remand of former Bank of Punjab (BOP) president Hamesh Khan, former honorary consulate in Kazikistan Seith Nisar and Sheikh Muhammad Afzal, owner of Haris Steel Mills and Haider Steel Mills, till May 30.
The accused are charged for embezzling Rs 12 billion in BOP fraud case. American nationality holder Khan, principal accused in the BOP fraud case, has been accused for issuing loans worth Rs 6.2 billion to Afzal, beyond his authority. Nisar also issued loans worth Rs 930 million.
The court while extending the judicial remand directed the National Accountability Bureau to file a reference against the accused by the next hearing.