In a major development in a banking crime case, Kotri Police have registered an FIR on the complaint of JS Bank Limited against four partners of M/s Southland Flour Mill for defaulting on banking facilities exceeding PKR 100 million and allegedly misappropriating pledged wheat stock.

According to police documents, the FIR was registered under Section 406 of the Pakistan Penal Code for Criminal Breach of Trust. JS Bank alleged that wheat stock pledged as security against its financing was removed and sold without the bank’s authorization.

Following legal formalities and approval from the Senior Superintendent of Police, Jamshoro, police teams have launched raids in Hyderabad, Dadu and other areas to apprehend the accused. The operation is being conducted with support from Hyderabad Police.

JS Bank stated that despite repeated inspections, notices, and written undertakings, the borrowers neither restored the pledged stock nor settled outstanding dues. Inspections revealed significant shortages in the collateral.

The FIR names: Daya Ram, Bhojo Mal, Shafi Muhammad, and Shah Jehan. Each holds a 25% stake in the firm. Police said they are reviewing bank records, inspection and stock reports. Further legal action is expected as the investigation proceeds.