ORDER SHEET

HIGH COURT OF SINDH AT KARACHI

M.A No.S-05 of 2016 (New)

M.A. No.D-02 of 2016 (Old)

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Date Order with signature of Judge

1. For orders on CMA No.138/2016

2. For Hearing of Main case.

3. For orders on CMANo.139/2016

15.02.2016

Mr. Arshad Mohsin Tayabaly, Advocate for Appellant.

Representative Imran Shamsi of Respondents.

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1. Exemption allowed subject to all just all legal objections.

2-3. Per learned counsel for the appellant the appellant is neither any insider nor has there been any inside information. Learned counsel for the appellant contends that the respondents No.2 & 3 have erred in accepting the stance of insider. Learned counsel for the appellant contended that appellant was the CFO of HASCOL at the relevant time and issuer was PRL. Per learned counsel for the appellant the impugned orders passed by the respondents No.2 & 3, are patently illegal, void and are based on presumption and assumptions. Points raised by the learned counsel for the appellant requires consideration. Learned counsel for the appellant provided copy of the memo of appeal to the representative/officer of respondents, who is present in other cases in this Court who waived notice. Request is made for time for filing counter affidavit. Adjourned for 29.02.2016. Till the next date respondents are restrained from taking any coercive action against the appellant.

Judge

Sami