Can expat’s property be frozen Karachi cheque case?
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As a foreigner, I have to maintain good relation with my host country. I don’t want to keep my Karachi property for the long period. pop over to this site I have a small business in the city and I want to open a bank account for my business transactions. I don’t want to take risk by keeping my money in banks. I want to maintain the security of my property in my country as well as for my personal use in Karachi. For this purpose, I am looking for the best option. I heard about the case in which an Indian national
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In case you had moved abroad to start a business, but had an outstanding cheque worth Rs 50,000 from a local bank in Karachi, the cheque has since been dishonoured, and your property is frozen. This is the scenario that has been reported by my client from a local police station here in Karachi. The story doesn’t have any details except the name of the bank and the name of the banker who issued the cheque. If you have been in Karachi for more than two years and
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Sure, can expat’s property be frozen Karachi cheque case? That’s a legitimate question to ask if your money and home are in danger because of a cheque from Karachi. There are specific s, but the issue itself is a simple one of property being frozen. Let me explain. A cheque is a money instrument, or a bill of exchange, that can be written on your bank account and drawn against your funds in your bank. The money on your account is debited, and any bank account that receives cheques
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Can expat’s property be frozen Karachi cheque case? The issue of property being frozen in Karachi cheque cases has caused much confusion in the legal world. This happens when the cheque issued by the payee (payee) is written to a bank account, which is in another jurisdiction. In such cases, the issuing bank in the first country would take the decision of freezing the property of the borrower or purchaser, i.e. see this site The property of the debtor, in the name of the payee in the
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Expats in Pakistan have to be wary of their property while living in this country. Some of them find themselves in a position to keep their investments abroad and return to Pakistan. However, their foreign assets are not covered by the Pakistani laws, which can be a major burden on them when they need to seek legal assistance. One of the cases that is common is the cheque fraud, where a local person cheated expat’s bank account. This particular case is of interest because in Pakistan there are few ways to freeze such property. But in the
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Sure, if you are a foreign national residing outside Pakistan but have property in Karachi, then a cheque from a local bank for a substantial amount (such as 2.5 million) may be used to freeze your property under the law in Pakistan. The law was changed by the National Assembly in March 2012, and then it was made permanent. The new law was passed by Parliament and it was signed by President Asif Ali Zardari. The bill amended section 144 of the Pakistan Penal Code to freeze a