Sindh High Court Summons A.B. Engineering Private Limited

Bank Alfalah Limited had filed a suit under Section 9 of the Financial Institutions (Recovery of Finances) Ordinance of 2001 for recovery of Rs94,655,183.16 along with cost of funds, sale of mortgaged properties, hypothecated goods and relief etc., against A B Engineering Private Limited and its three directors namely; Syed Haider Ali Naqvi, Syed Jaffer Ali Naqvi and Syed Baqar Ali Naqvi

Sindh High Court, Karachi has summoned M/s A. B. Engineering Private Limited and its Directors to appear on 28th May 2010 with reference to a suit filed by Bank Alfalah Limited for recovery of Rs94.655 million.

According to details Bank Alfalah Limited had filed a suit under Section 9 of the Financial Institutions (Recovery of Finances) Ordinance of 2001 for recovery of Rs94,655,183.16 along with cost of funds, sale of mortgaged properties, hypothecated goods and relief etc., against A B Engineering Private Limited and its three directors namely; Syed Haider Ali Naqvi, Syed Jaffer Ali Naqvi and Syed Baqar Ali Naqvi.

The Plaintiff Bank stated that A B Engineering a private limited company engaged in the business of automobiles and allied engineering parts, fabrication and manufacturing other related goods, had availed various finance facilities from the plaintiff bank. Three directors of defendant No.1 had executed their personal guarantees in their individual/ personal capacities in favor of plaintiff bank for the payment obligations of A B Engineering.

The lender-borrower relationship between the plaintiff bank and defendant spans over a period of almost five years. On 29-11-2009 the facilities provided to defendants got expired and they failed to fulfill their repayment commitments. Bank Alfalah on various occasions requested the defendants to pay the outstanding amounts and in this regard, various letters and notices were sent but the defendants failed to settle their liabilities towards the Plaintiff Bank.

On several requests made by the plaintiff bank to meet its liabilities, the defendants dishonestly in connivance of each other issued two (2) cheques to the plaintiff bank which were dishonored on presentation by the drawee Bank. Hence the defendants committed default towards the plaintiff and also committed offence as mentioned under Section 20 of the Financial Institutions (Recovery of Finances) Ordinance 2001. Besides this the defendants also dishonestly committed a breach of the terms of the Trust Receipts which is also punishable under Section 20 of FIO, 2001. The Plaintiff Bank also reserves the right to initiate criminal proceedings against the defendants for the offences committed by them.

The suit stated that A B Engineering by committing default in fulfillment of its obligations towards the plaintiff bank had caused substantial financial loss to the Bank and deprived the plaintiff bank of moneys that it might have earned by lending/ investing the same to other customers. As per the Books of Accounts pertaining to A B Engineering Private Limited as on 12-03-2010 a sum of Rs94,655,183.16 (Rupees Ninety Four Million six Hundred Fifty Five Thousand one Hundred Eighty Three and sixteen Paisas only) is outstanding and payable by the Defendant No.1 (A B Engineering Private Limited) towards the Plaintiff Bank (Bank Alfalah Limited).

The defendants were liable to settle their outstanding amounts but they defaulted to do so hence cost of funds as determined by SBP and as envisaged under Section 3 and 17 of the Ordinance may kindly be granted from the date of default, the plaintiff bank requested. It further said that the cause of action arose on a number of occasions when the facilities were extended/ sanctioned/ enhanced to A B Engineering Private Limited, when the financing documents were executed, when the Defendant in violation of its obligation towards the Plaintiff, when the Defendants defaulted in fulfillment of its obligations towards the Plaintiff Bank and cause of action still exists and continues till the time of the institution of this recovery suit against the Defendants.

Therefore, the Bank Alfalah Limited prayed for:

a) A decree be passed in favor of the Plaintiff Bank and against all Defendants (1 to 4) jointly and severally for payment of Rs94,655,183.16.

b) Following mortgaged property be ordered to be sold for realization of the decreetal amount;
"All that piece and parcel of land bearing the number Plot No.A-32 & A-33 and measuring 10 (Ten) acres or there about situated in the eastern Industrial Zone, Port Qasim Area, in the Registration district and Sub-District of Karachi."

c) The Hypothecated Property also be ordered to be sold for realization of the decreetal amount, which includes all movable property i.e. Plant & Machinery now or hereafter installed or to be installed/ stored or located or lying at F-563, Workers' Avenue, SITE, Karachi, F-706, Workers' Avenue, SITE Karachi, F-137, SITE Karachi and B-31, SITE Karachi.

The Hypothecated Goods includes all present and future goods, merchandise, products, stocks, stock in trade, raw materials, work in progress, finished and unfinished goods, now or hereafter stored, or located or lying at F-563, Workers' Avenue, SITE, Karachi, F-706, Workers' Avenue, SITE Karachi, F-137, SITE Karachi and B-31, SITE Karachi or any other place of storage godown in Pakistan and all such aforesaid goods in the course of transit including goods referred by and any released under trust receipts and all future goods/ stocks that may be brought into the above place of storage/ godown.

The Hypothecated receivables include; all present and future book debts and receivables, outstanding, moneys, claims, bills, contracts, engagements, securities, rights and assets.

-Staff Correspondent

HINOPAK Sales & Marketing Conference 2010

Hideya Iijima MD & CEO of Hinopak commended the efforts of Sales & Marketing team in achieving last year's target & stressed the need for even greater efforts to meet country's transportation needs. He also said that Total Customer Satisfaction is Hinopak's motto and in year 2010, we look forward to even more outstanding efforts by providing more after sales support and training to customers

Being Market leader of Pakistani Automobile Industry, and the largest assembler and manufacturer of trucks and buses in Pakistan, Hinopak Motors Limited always strive to provide best sales support to its customers.

Hinopak organized a Sales & Marketing Conference 2010 to review last year's performance and formulate future strategies to achieve company's goal of Total Customer Satisfaction. During 2 day conference, plans and strategies were chalked out to provide customers with better value for their money and support their business activities by providing them Total Transportation Solution.

Representatives from Hinopak's Head office, Area offices & other delegates participated in the conference and presented performance reviews and future plans for their respective territories.

In his inaugural address, Mr. Hideya Iijima MD & CEO of Hinopak commended the efforts of Sales & Marketing team in achieving last year's target & stressed the need for even greater efforts to meet country's transportation needs. He also said that Total Customer Satisfaction is Hinopak's motto and in year 2010, we look forward to even more outstanding efforts by providing more after sales support and training to customers.

Takeshi Ito, Deputy Managing Director, Hinopak congratulated and highly appreciated the efforts of sales teams. He urged the participants of conference to retain their efforts and hard work to provide more care to its customers.

In his address Irfan Shaikh, Director Sales & Marketing said that Hinopak owes its success to untiring efforts of the Sales and Marketing and Product Support Team. He added that to provide the best support to its customer Hinopak always strive to strengthen its after sales service network and the aim of this conference is also to motivate and educate our sales teams how to facilitate the customers for their hassle free business activities. He further said that to provide prompt service to customers we have recently handed over the mobile workshops to our dealers and planned to increase them to facilitate our customer even at the remotest of locations.

Irfan Shaikh strongly emphasized the importance of training of customers, he said that Hino Mobile Training Unit is in operation since more than one year and has already provided on spot training to hundreds of Hino customers. He urged Hinopak sales teams to motivate their customers to get benefit of this service at their door step which would definitely economize their business activities.

The Award for Best Sales Performance was presented to Badar ul Hussain, Manager Sales Planning and coordination, Hinopak while best sales performance award area wise presented to Area Central.

CBPA conducts Career Counseling for Youth

The Technical Education Committee (TEC) of the Catholic Businesspersons and Professional Association (CBPA) arranged a programme on "Career Counseling for the Youth" which was held at St. Patrick's Girls High School in Saddar, Karachi.

Over 200 youth, mainly school children from different parishes including a large number of girls, some parents and school teachers attended the Career Counseling programme. The boys from the Don Bosco's Boarding also attended the programme. Archbishop Evarist Pinto accompanied with Rev. Fr. Edward Joseph, Parish Priest of St. Patrick's Cathedral graced the programme with their presence.

Archbishop Evarist Pinto in his speech stressed that the youth should acquire a trade of his or her choice and learn to stand on their own feet.

He encouraged the youth to take an active part in the building of their careers and that they should not be dependant on others. He also appreciated the efforts made by the CBPA in arranging this programme on Career Counseling for the youth.

Rev. Fr. Edward Joseph started the programme with a short prayer which was followed by the welcome address of Chang Cey Wen who is the Head and Founder of the CBPA in Karachi. The programme commenced with five presentations which were made by professionals from the industry in the following sequence.

Clifford Lucas gave a presentation on Community Based Career Planning which was followed by Johnson Pereira on the Scope of Technical Education in Pakistan. The third presentation was given by Leon Menezes on a Successful Life, followed by Sunil Sadiq Gill on Architecture as a Profession. The last presentation was made by Jason Pereira on the theme Dare to Dream.

Johnson Pereira who is the Head of the Technical Education Committee (TEC) of the CBPA in his concluding speech apprised the audience that the CBPA had made special arrangements with the NED University of Engineering and Technology for the Christian students to avail the unutilized seats reserved for the Parsi minorities for admissions to the Bachelor of Engineering (BE) degree programme.

He also highlighted to the youth various technical trades presently being offered by St. Patrick's Institute of Science and Technology, the Training Centre of Hinopak Motors Limited, the Memon Industrial and Technical Institute (MITI), the Defense Institute of Technical Education which was recently inaugurated, the Training Programme for the Pak Suzuki Motor Company Limited, which is to be conducted at St. Patrick's Institute of Science and Technology and various other technical trades being conducted by some of the government and private technical institutes in Karachi.

Pereira in his speech apprised Archbishop Everest Pinto that he was actively working with the Directorate of Labor, Manpower and Training, Government of Sindh to establish informal training courses for school dropouts in various trades after which these students would be certified by the Trade Testing Board of the same directorate. This in turn would facilitate school dropouts in earning a livelihood for themselves and their families.

Johnson Pereira on behalf of the CBPA thanked Archbishop Evarist Pinto and Rev. Fr. Edward Joseph for taking out time from their busy schedule to grace the occasion. He also thanked Ms. Amy Gonsalves, Principal of St. Patrick's Girls High School for providing the school premises to conduct the programme.

Ms. Flaxy Elizabeth Pereira of the CBPA received special thanks for her continuous support and cooperation in arranging this programme. Without her support it would not have been possible for the CBPA to hold the Career Counseling programme on this day.

He also thanked all the members of the TEC and the CPBA for their presentations and all those who helped in making the programme a success. Special thanks also went out to Rev. Fr. Arthur Charles, Vicar General of the Archdiocese of Karachi and CEO of the Good News Television channel and the Representative of the News Media UCAN (Union of Catholic Asian News) for covering up the entire programme.

-Staff Correspondent