ISLAMABAD, (TLTP): While granting stay order against reimbursement of salaries from 21 vice presidents of the country’s largest agriculture sector financial institution Zarai Taraqi Bank Limited (ZTBL) in wake of their alleged wrong promotions, Islamabad High Court (IHC) Tuesday issued notices to respondents including federal finance secretary and president of the Bank for reply in the matter by April 28.
Chief Justice Athar Minallah granted the stay order after hearing preliminary arguments of the counsel Advocate Umer Ijaz Gilani that Bank management has issued an illegal memorandum to relegate his clients, saying without the approval of Board of Directors no decision in such matters could be taken.
Advocate Gilani also urged the court to issue directives to the federal government to fill vacant slots of the Board of Directors of the Bank and restrain the Bank management to take any illegal action against his clients. However, the Chief Justice plainly observed that after hearing the respondents the court will decide the matter in hand.
During the course of proceedings, Advocate Umer Gilani drew the court’s attention towards ZTBL office memorandum terming it has been passed while by-passing the Bank’s Board saying his clients have decades of service were demoted without being afforded an opportunity of hearing.
Gilani has made federal secretary finance, chairman Securities and Exchange Commission of Pakistan, president ZTBL and two others as respondents alleging that the Bank management has canceled promotions of as many as 150 employees in the garb of implementing a Supreme Court verdict while misinterpreting the top court order, adding as a matter of fact the Supreme Court never ordered for demotions or recovery of salaries earned in the past.
After hearing the arguments, the Chief Justice Athar Minallah restrained ZTBL from recovery of salaries form the petitioners and issued notices to respondents of the case with directives to come up with replies in the matter on April 28.
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