| Case ID |
20f6a42b-dd69-49f2-b1ce-e6746c9249b5 |
| Body |
View case body. Login to View |
| Case Number |
D-1111 of 2017 |
| Decision Date |
Apr 03, 2017 |
| Hearing Date |
Mar 28, 2017 |
| Decision |
The Sindh High Court dismissed the constitutional petition filed by Saifanuzzaman Khan, an investigative journalist, which challenged the acquisition of 51% shares of Invest and Finance Securities Limited by EFG Hermes Frontier Holdings, LLC, Dubai. The petitioner argued that the transaction harmed public interest and contravened the Foreign Exchange Regulation Act, 1947, claiming a right to information regarding the transaction under Article 19-A of the Constitution. However, the court found that the petitioner failed to establish a public wrong or injury that warranted judicial intervention. The court emphasized that such private transactions should not be subjected to roving inquiries under the guise of public interest, especially when other regulatory authorities exist to oversee such matters. Thus, the court ruled that the petition did not fall within the domain of public interest and was therefore not maintainable. |
| Summary |
In the case of Saifanuzzaman Khan vs. Federation of Pakistan, the Sindh High Court addressed a constitutional petition challenging the acquisition of 51% shares of Invest and Finance Securities Limited by EFG Hermes, a foreign entity. The petitioner, an investigative journalist, claimed that the transaction was detrimental to public interest and violated the Foreign Exchange Regulation Act, 1947. This case highlights the tension between private transactions and public interest litigation, particularly in terms of the right to information and the judicial oversight of private corporate dealings. The court ultimately ruled that the petition lacked merit, reinforcing the principle that not all private transactions warrant scrutiny under public interest claims. This decision is significant for understanding the boundaries of public interest litigation and the rights of citizens to question corporate actions. Keywords: public interest litigation, right to information, constitutional petition, Foreign Exchange Regulation Act, corporate governance. |
| Court |
Sindh High Court
|
| Entities Involved |
Competition Commission of Pakistan,
Invest and Finance Securities Limited,
EFG Hermes Frontier Holdings, LLC
|
| Judges |
MUNIB AKHTAR, JUSTICE,
YOUSAF ALI SAYEED, JUSTICE
|
| Lawyers |
Dr. Amjad Hussain Bukhari
|
| Petitioners |
SAIFANUZZAMAN KHAN
|
| Respondents |
7 others,
FEDERATION OF PAKISTAN THROUGH SECRETARY MINISTRY OF FINANCE, GOVERNMENT OF PAKISTAN, ISLAMABAD
|
| Citations |
2017 SLD 1306,
2017 PLD 559
|
| Other Citations |
Javed Ibrahim Paracha PLD 2004 SC 482,
Salahuddin Dharaj v. Province of Sindh PLD 2013 Sindh 236,
Atta Ullah Khan Malik v. Federation of Pakistan PLD 2010 Lah. 605
|
| Laws Involved |
Constitution of Pakistan,
Foreign Exchange Regulation Act, 1947
|
| Sections |
9,
19-A,
199
|