SHC allows return of bank guarantee
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Wednesday allowed a petition seeking release of the bank guarantee submitted with Custom Officials as demurrage.
Ghulamullah Advocate appearing for the petitioner company which imported a consignment of steel scrap submitted that due to delay in release of the consignment was slapped with demurrage and later asked to pay the same for issuance of delay detention certificate which was issued subsequently. Submitting that while price of steel scrap went down drastically during the period, consignment was stuck up at port, petitioner lost interest in getting the same release and now he prays for return of the bank guarantee amounti to rupees 30 lac.
The bench later after hearing the official respondents ordered release of the bank guarantee in the favour of the petitioner.