NBP takes action against misreporting by TV channel
KARACHI: National Bank of Pakistan (NBP) through senior Counsel Nafees A. Siddiqi, Advocate Supreme Court and Barrister Waleed Khanzada filed a defamation Suit against the Royal TV, its news anchors and its Management in the Honourable Sindh High Court at Karachi for making incorrect allegations against National Bank of Pakistan (“NBP”) and its senior management.
On September 30, 2010 NBP Advocates moved an urgent application before Justice Maqbool Baqar of the Honourable Sindh High Court which was granted and the matter was argued at length by Nafees A. Siddiqi, whereupon the Honourable Sindh High Court was pleased to grant Restraining/Stay Order against the Royal TV, “…the defendants Shall not in any of their programs publish or circulate any false statement or representation either oral, written or visual…”.
In its Suit, NBP has submitted to the court what it says the malicious and vindictive campaign of baseless allegations, insinuations, imputation, false, malafide, untrue, incorrect and legally untenable statements/representation against NBP (which is the largest bank in Pakistan having more than 1250 branches in Pakistan and operates in 27 countries around the world) being conducted by Royal TV through its News Channel is aimed at placing NBP under pressure to grant Royal TV and its sister concerns Financial Favours. In June 2010, Royal TV demanded advertisement for their channel of Rupees One million per month and advertisement for their Newspaper namely “Daily Payam-e-Mashriq. Furthermore, loan of Rupees 336.16 million for their travelling company namely “Royal Pak Traveling Services”. Till date NBP and its management has refused to bow to this extortion tactics by Royal TV, its news anchors and its management.
Source: Business Recorder