Habib Metropolitan Bank Public Notice: Lahore High Court Decree Against Chakwal Spinning Mills (now Quantum Data Technologies)

Habib Metropolitan Bank Limited gives notice that the Honorable Lahore High Court has passed a decree in the Bank's favor against M/s. Chakwal Spinning Mills Limited and its guarantors. Execution Proceedings No. 2:42/2024 arising out of the Bank's Suit No. 126875/2017, including the auction of assets, are presently pending in the Lahore High Court and remain outstanding and unsatisfied.

The Bank advises that M/s. Chakwal Spinning Mills Limited has changed its name to M/s. Quantum Data Technologies Limited; under Section 13(3) of the Companies Act, 2017 this does not affect the entity's or its guarantors' liabilities. The public is cautioned that the Bank holds subsisting enforceable rights against the said entity and its guarantors, and that, pursuant to Section 23(2) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, no judgment debtor shall transfer, alienate, encumber or part with possession of assets without prior written permission of the Banking Court. The Bank reserves all rights to pursue available remedies. (Habib Metropolitan Bank Limited, RAMD, Head Office, Karachi)