Author Topic: SMBL -- Summit Bank Limited  (Read 66411 times)

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Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #19 on: December 15, 2009, 10:51:51 AM »
good news share farzooq bhai thanx

Pakinvestorsguide

Re: SMBL -- Summit Bank Limited
« Reply #19 on: December 15, 2009, 10:51:51 AM »

Offline Admin

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Re: SMBL -- Summit Bank Limited
« Reply #20 on: December 21, 2009, 09:35:37 AM »
Lawai’s appointment as AHBL chief challenged in SC  

Monday, December 21, 2009
ISLAMABAD: The appointment of banker Hussain Lawai as president Arif Habib Bank Limited (AHBL) has been challenged in the Supreme Court.

The petitioner has termed his appointment illegal and against the interest of the masses. He has also blamed regulators for incompetence and connivance, according to a handout issued here on Sunday.

Social worker Tahir Amin of Lahore has challenged the appointment of Hussain Lawai under Article 184(3) of the Constitution through Farooq Amjad Meer and MS Khattak advocates. He has pleaded that a person of dubious character who is an NRO beneficiary and faced NAB cases after committing fraud to the tune of Rs1.82 billion cannot be appointed as president or CEO of a public bank.

In his petition, he has said that Lawai committed fraud as president of the MCB and remained fugitive for over a decade. On the request of the government of Pakistan, Interpol arrested him from Canberra on March 4, 1998. He was brought to Pakistan where he faced NAB cases but later he was given benefit under the NRO.

It was despite the fact that cases against him were criminal that had nothing to do with political victimization. Benefit under NRO cannot be taken as acquittal. The applicant further submitted that his appointment can result in another massive banking scandal like that of the Bank of Punjab, which will not only hurt millions of depositors but can also shake the foundations of fragile economy.

Lawai is buying banks with the help of Suroor Investments, an offshore company registered in Mauritius. Banks are being bought without bringing any money into the country. He asked wherefrom buyers have raised that kind of money.

The applicant also raised questions about the role of Finance Ministry, the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan and the Competition Commission of Pakistan.

“These regulatory and supervisory bodies are helping this group to buy banks by moulding laws and overlooking legal formalities,” he alleged. Giving NOC to such a person is professional dishonesty as the prudential regulations of SBP clearly mention that a party cannot own two commercial banks.

Any person involved in criminal activity or dismissed from any department cannot be appointed as president or CEO of a bank. Integrity, honesty and reputation of a CEO of a bank should be satisfactory.

He said that when the authorities fail the test of reasonableness in discharging legal duty, judicial interference to rectify the wrong becomes warranted when law and rules are totally disregarded. It’s imperative when the financial interest of millions of Pakistanis is at stake.

The minister of finance has dominated the regulatory bodies to such an extent that their respective independent evaluation stands totally eradicated which is evident by allowing appointment in top management persons of dubious past. The applicant asked the Supreme Court to take note of the situation and interfere to safeguard the interests of masses and prevent the economy from being ruined.

Offline Admin

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Re: SMBL -- Summit Bank Limited
« Reply #21 on: December 29, 2009, 12:58:45 PM »
ahbl with be merged with mybl and atbl till 31st march . saroor investments

um@ir

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Re: SMBL -- Summit Bank Limited
« Reply #22 on: January 10, 2010, 03:17:43 PM »


AHBL - Strategy
Bull flag with decling volume. should break the upper flag line at 6.55 with increasing volumes to target PKR 8. Major resistance of 200dma at 6.44. momentum
indicators has the steam to push it higher. Stop 5.50

 

:thankyou:

Offline 007

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Re: SMBL -- Summit Bank Limited
« Reply #23 on: January 10, 2010, 05:21:51 PM »
thanks sir jee :thumbsup_still:

Offline myway

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Re: SMBL -- Summit Bank Limited
« Reply #24 on: February 18, 2010, 10:08:53 PM »
insider news ahbl 10rs after 31 march
baad mey na kehna khabar na howi

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #25 on: February 19, 2010, 09:46:16 AM »


AHBL - Strategy
Bull flag with decling volume. should break the upper flag line at 6.55 with increasing volumes to target PKR 8. Major resistance of 200dma at 6.44. momentum
indicators has the steam to push it higher. Stop 5.50

 

:thankyou:


above 7  :goodc:
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Offline myway

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Re: SMBL -- Summit Bank Limited
« Reply #26 on: February 19, 2010, 09:50:25 AM »
insider news ahbl 10rs after 31 march
baad mey na kehna khabar na howi

kiun bhaiyon kaisi rahi tip abhi bhi time hai bharte jao

Offline kashif_khan

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Re: SMBL -- Summit Bank Limited
« Reply #27 on: February 19, 2010, 10:28:20 AM »
Sir jee 10 ka hone ki news kia hai announcement factor hai ya koi merger.

Offline myway

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Re: SMBL -- Summit Bank Limited
« Reply #28 on: February 19, 2010, 10:35:54 AM »
Sir jee 10 ka hone ki news kia hai announcement factor hai ya koi merger.

merger

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #29 on: February 24, 2010, 09:41:07 AM »
SHC restrains Arif Habib, Saleem Chamdia from selling shares

AHMED MALIK
KARACHI (February 24 2010): The Sindh High Court has passed an order restraining Arif Habib and Saleem Chamdia from selling shares in any of the 15 scrips worth million of rupees which are the subject matter of a dispute. The SHC issued this order in a suit filed by Mohammad Aslam Motiwala against Arif Habib Bank, containing allegations against management of the bank and its chairman, after hearing plaintiff's counsel on Tuesday.

The suit contains allegations that the plaintiff had pledged his shares with Arif Habib Bank to avail a facility and that in November 2008, before proceeding for Haj, the plaintiff paid off 63 percent of his total liability. According to the plaintiff, while he was away from the country for performing Haj, Arif Habib, Chairman and owner of Arif Habib Bank, and Saleem Chamdia, director of the bank at that time, sold his shares at throwaway price and themselves purchased those shares. The shares were sold without notice to the plaintiff, as he was not in Pakistan.

The plaintiff has claimed that after Haj, on his return to Pakistan, upon discovering this, he immediately approached both Arif Habib and Saleem Chamdia, who requested him not to take any action against them. According to the plaintiff, Arif Habib promised that his loss would be compensated but, at the same time, he requested the plaintiff to pay money to meet the deficit that had been created in his account because sale of shares at nominal prices. It has also been asserted that when the plaintiff refused to do so, just to keep him quiet, Arif Habib started making direct payments into the account of the plaintiff with Arif Habib Bank.

In addition to above, the plaintiff has also produced copies of sale deeds to show that, at least twice, Arif Habib had transferred houses in DHA, which were in his personal name, to Arif Habib Bank 'through the plaintiff' to reduce 'plaintiff's liability'. Plaintiff has filed the case seeking return of all the 15 different shares that he had pledged with Arif Habib. The case has been fixed for hearing for March 12, 2010. Till then, the Court has directed that 'no transfer with regard to the disputed shares shall be made by Defendants No 2 and 3, ie Arif Habib and Saleem Chamdia respectively.

The plaintiff submitted that the shares of 15 companies, including Askari Bank (AKBL), Chenab Limited (CHBL), Dadabhoy Cement (DBCI), Dewan Cement (DCL), DG Khan Cement (DGKC), Dewan Salman Fibre Limited (DSFL), IGI Investment Bank (IGIBL), JS Growth (JSGF), Pak PTA Limited (PPTA), NIB Bank (NIB), PICIC Investment Fund (PIF), Pak Premium Fund Limited (PPFL), PTCL, TRG Pakistan Limited (TRG) and Trust Modaraba (TRSM), pledged in the Arif Habib Bank, were sold without notice to the plaintiff in his absence from the country.
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Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #30 on: March 04, 2010, 10:19:57 AM »
Arif Habib resigns from AHBL Board
Staff Reporter
KARACHI: Pursuant to the sale by Arif Habib Securities Ltd, of their majority shareholding in Arif Habib Bank Ltd to M/s Suroor Investments Ltd, Arif Habib along with other two directors have resigned. According to details, Arif Habib, Mohammad Khan Hoti, and Mirza Mahmood Ahmed have resigned from the AHBL Board of Directors.
They have been replaced by Nasser Abdullah Hussain Lootah, Mohamed Ahmad Mousa Ismail, and Khrida Nasser Abdullah Hussain Lootah. At the same time, Rupali Bank Ltd of Bangladesh has nominated its new Managing Director Jaglul Karim on the Board of Arif Habib Bank in place of Abdul Hamid Miah. Nasser Abdullah Hussain Lootah is the new Chairman of the Board.
The reconstitution of the Board is subject to the approval of the State Bank of Pakistan (SBP). The new Board of the Bank has decided to inject further capital of Rs2.5 billion into the equity of the Bank.
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Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #31 on: March 04, 2010, 10:28:55 AM »
lps 4.13
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Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #32 on: March 06, 2010, 01:41:06 PM »
Saroor Investment takes over AHBL management
RECORDER REPORT
KARACHI (March 05 2010): The new board of directors of Arif Habib Bank Limited (AHBL) has decided to inject further capital of Rs 2.5 billion into the equity of the bank. The Saroor Investment has taken over the management of the Arif Habib Bank and the board of directors of the bank has been changed.

The new board of the bank consists of Nasser Abdullah Hussain Lootah Chairman and director, Hussain Lawai President and CEO with other directors namely Nasim Beg, Asadullah Khawaja, Mohammed Ahmad Mousa Ismail, Khrida Nasser Abdullah Hussain Lootah and Md. Jaglul Karim.
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Offline myway

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Re: SMBL -- Summit Bank Limited
« Reply #33 on: March 06, 2010, 02:55:13 PM »
insider news ahbl 10rs after 31 march
baad mey na kehna khabar na howi

 :busted_blue:

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #34 on: March 29, 2010, 03:12:23 PM »
ahbl renamed summit bank
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Offline 007

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Re: SMBL -- Summit Bank Limited
« Reply #35 on: March 29, 2010, 03:24:38 PM »
insider news ahbl 10rs after 31 march
baad mey na kehna khabar na howi

 :busted_blue:

2 main 4 re nahin charh sakta phir na kehna khabar na hui :khikhi:


loss hai 4.13 Re ka

Offline Research Doctor

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Re: SMBL -- Summit Bank Limited
« Reply #36 on: March 29, 2010, 06:44:09 PM »
ahbl renamed summit bank

effects????????????

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #37 on: March 29, 2010, 07:29:41 PM »
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Offline Research Doctor

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Re: SMBL -- Summit Bank Limited
« Reply #38 on: March 29, 2010, 08:07:02 PM »

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