| Case ID |
1a0c9be5-1035-48cc-97e5-b4304b197530 |
| Body |
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| Case Number |
W.P.No.36748/2022 |
| Decision Date |
Feb 01, 2023 |
| Hearing Date |
|
| Decision |
The Lahore High Court addressed the petition filed by Jan Muhammad Tayab against the Federation of Pakistan and others under the Foreign Exchange Regulation Act, 1947. The court examined the legality of the actions taken by the respondents and evaluated the evidence presented by both parties. The decision emphasized the importance of adhering to the regulations set forth in the Foreign Exchange Regulation Act and upheld the principles of justice and fairness in the adjudication process. The court's ruling aimed to clarify the application of Section 23C(4) of the Act, ensuring that all parties are held accountable to the law. This case serves as a critical reference for future cases involving foreign exchange regulations, highlighting the court's commitment to uphold the rule of law. |
| Summary |
The case of Jan Muhammad Tayab vs. Federation of Pakistan revolves around the interpretation and application of the Foreign Exchange Regulation Act, 1947. This case was adjudicated by the Lahore High Court, where the petitioner challenged actions taken by the respondents concerning foreign exchange regulations. The court's decision, delivered by Judge Shahid Karim on February 1, 2023, provides significant insights into the enforcement of foreign exchange laws in Pakistan. The ruling emphasizes the necessity for compliance with the Foreign Exchange Regulation Act, particularly Section 23C(4), which outlines specific regulatory measures. The legal representatives for the petitioner included prominent advocates who presented a compelling case regarding the implications of the actions taken by the Federation of Pakistan and the State Bank of Pakistan (SBP). This case underscores the importance of regulatory frameworks in facilitating lawful foreign exchange transactions and ensuring that stakeholders are aware of their legal obligations. The decision is expected to impact future legal interpretations and actions related to foreign exchange regulation, thereby contributing to the overall legal landscape in Pakistan. |
| Court |
Lahore High Court
|
| Entities Involved |
|
| Judges |
SHAHID KARIM
|
| Lawyers |
Waqas Ahmad Mir,
Mian Tariq Hassan,
Hassan Ali,
Jahangir Dogar,
Rehan Nawaz,
Dr. Shahid Raza,
Asad Ali Bajwa
|
| Petitioners |
Jan Muhammad Tayab
|
| Respondents |
Federation of Pakistan,
SBP
|
| Citations |
2023 SLD 6581
|
| Other Citations |
Not available
|
| Laws Involved |
Foreign Exchange Regulation Act, 1947
|
| Sections |
23C(4)
|