Business leaders unite against misuse of cheque bounce law, demand JIT Investigation.

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In a joint press conference, prominent industrialists and business leaders from various trade organisations, including the Korangi Association of Trade and Industry (KATI), Federation of Pakistan Chamber of Commerce and Industry (FPCCI), and Karachi Chamber of Commerce and Industry (KCCI), SITE, BQATI, FBATI, NKATI, LATI, SITE Superhighway, Association of Builders and Developers (ABAD) and other Trade Associations came together to demand a thorough investigation into the misuse of the cheque bounce law.

KATI President Johar Qandhari expressed concern over a new method of fraud targeting industrialists and businessmen, leading to unwarranted arrests and extortion attempts. Qandhari revealed his experience of facing false allegations based on bounced cheques, emphasising that he had no connection with the plaintiff and presented call data records as evidence.

The industrialist asserted that the FIR against him resulted from a fraudulent scheme, raising suspicions of the potential involvement of bank staff. Qandhari criticised the bank’s lack of verification when declaring the cheque as bounced and urged for a comprehensive investigation.

Qandhari disclosed that unknown personnel blackmailed them to pay a substantial sum for his release, highlighting the cooperation received from the CCPO and DIG. Forensic examination of the cheques revealed forged signatures and seals, providing concrete evidence of the malicious intent behind the case.

President KATI called attention to the plaintiffs’ absence in court. The malicious case has been upgraded to a C-class FIR, and Qandhari expressed hope for a fair and just decision based on merit.

The press conference aimed to raise awareness about fraudulent practices and protect business people from falling victim to similar schemes. Qandhari urged the administration and relevant institutions to take note of these elements and emphasised the need to expose those who have exploited business people through this method.

FPCCI Senior Vice President Saqib Fayyaz Maggoo condemned the misuse of the cheque bounce law, emphasising its original purpose of benefiting the business community. He appealed to higher authorities to protect businessmen in the face of such incidents.

Asif Sum Sum, Chairman of ABAD, called for implementing proper procedures in handling cheque bounce cases, urging action from Chief Minister Sindh, IG Sindh, and Karachi Chief to address the issue.

Javed Bilwani, Coordinator of the Textile Exporters Forum, commended Qandhari for exposing the fraudulent activities and called on all town associations to bring such matters to light. He emphasised that abuse of the cheque bounce law could undermine investor confidence, affecting the country’s overall capital.

KATI’s Deputy Patron-in-Chief Zubair Chhaya echoed the sentiment, emphasising the need for practical steps to prevent such incidents in the future. Chhaya warned of severe reactions if immediate actions were not taken and stressed that the cheque bounce law should serve the business community’s convenience, not the difficulty. The united stance of all town associations was pledged in support of Qandhari, and the fight against the misuse of the cheque bounce law.

Photo Caption: KATI President Johar Qandhari addresses a joint press conference. FPCCI Senior Vice President Saqib Fayaz Maggo, Zubair Chhaya, Tanveer Bari, Anjum Nisar, and Javed Balwani are also present.

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