From The Past Pages Of Dawn: 1969: Fifty Years Ago: Loralai bank case
QUETTA: The cross-examination of Bashir Ahmad Khan, the first prosecution witness, continued in the case of Babu Mohammad Rafiq, ex-MPA, and eight ex-Directors of the liquidated Loralai Central Urban and Industrial Co-operative Bank in the Special Military Court last week.
The witness who is Inspector of the Co-operative Societies and the Liquidator of the said bank, told the court that the Secretary or Manager was to advance loans to individuals, firms and co-operative bodies against adequate securities and subject to the bylaws 31(22).
According to Baluchistan Cooperative Societies Rules 1913, the entire rules dealt with the powers and relationship of the Registrar vis-à-vis Co-operative Societies, he added. ... However in the Punjab rules, with the designation of the Registrar, the Deputy and Assistant Registrars had also been mentioned, the witness said.
Answering a question by the court, the witness said that as required by the Co-operative Societies Act 1925 Section 50(A), he did not submit any application regarding breach of trust in relation to the society. He stated that all those facts were in the knowledge of the Registrar because prior to ordering the winding up of the Bank affairs and appointing him as liquidator, enquiries had been conducted. ... He never lodged any report to the department against the affairs of that bank, he said. — Correspondent
Published in Dawn, August 26th, 2019