Rental power company submits bank draft in SC
Techno Sahuwal Company submits draft of Rs1.825 billion as per the directives of the Supreme Court.
ISLAMABAD:
The Techno Sahuwal Rental Power Company submitted a bank draft of Rs1.825 billion in the Supreme Court on Tuesday, where a three-member bench headed by Chief Justice Iftikhar Mohammad Chaudhry heard the case.
The company's counsel told the court that they have deposited the money on the directives of the Supreme Court.
Earlier, lawyers of the rental power company presented a cheque in the court as the hearing started on Monday, but the court refused to accept the cheque and ordered the company to submit a bank draft.
Updated from print edition (below)
Reprieve extended: Power company gets one more day to pay up
The Supreme Court on Tuesday extended the deadline given to Techno Sahuwal Rental Power Company (TSRPC) for depositing Rs970 million in the national exchequer along with mark-up by one day.
The three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry resumed the hearing of the rental power projects case.
The counsel, Raja Anwarul Haq, and a representative of the company appeared before the bench and presented a Rs1.08 billion cheque to the bench which it declined to accept.
The court directed the company representative to deposit the money in the national exchequer by pay order within an hour and submit a report to the bench and temporarily adjourned the case.
As the company could not have the pay order made due to circumstances beyond their control, the court extended the deadline by one day. The chief justice adjourned the case till today (Tuesday).
TSRPC received an advance from the government for power generation but failed to produce a single megawatt within the stipulated time. The apex court had directed the company to return the money along with an interest of Rs110 million latest by Monday.
Published in The Express Tribune, January 18th, 2011.
The Techno Sahuwal Rental Power Company submitted a bank draft of Rs1.825 billion in the Supreme Court on Tuesday, where a three-member bench headed by Chief Justice Iftikhar Mohammad Chaudhry heard the case.
The company's counsel told the court that they have deposited the money on the directives of the Supreme Court.
Earlier, lawyers of the rental power company presented a cheque in the court as the hearing started on Monday, but the court refused to accept the cheque and ordered the company to submit a bank draft.
Updated from print edition (below)
Reprieve extended: Power company gets one more day to pay up
The Supreme Court on Tuesday extended the deadline given to Techno Sahuwal Rental Power Company (TSRPC) for depositing Rs970 million in the national exchequer along with mark-up by one day.
The three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry resumed the hearing of the rental power projects case.
The counsel, Raja Anwarul Haq, and a representative of the company appeared before the bench and presented a Rs1.08 billion cheque to the bench which it declined to accept.
The court directed the company representative to deposit the money in the national exchequer by pay order within an hour and submit a report to the bench and temporarily adjourned the case.
As the company could not have the pay order made due to circumstances beyond their control, the court extended the deadline by one day. The chief justice adjourned the case till today (Tuesday).
TSRPC received an advance from the government for power generation but failed to produce a single megawatt within the stipulated time. The apex court had directed the company to return the money along with an interest of Rs110 million latest by Monday.
Published in The Express Tribune, January 18th, 2011.