SHC stays NBP action against INCL

KARACHI: Sindh High Court (SHC) has stayed action by National Bank of Pakistan (NBP) against Jang Group's Independent Newspapers Corporation Limited (INCL), Geo News reported here Friday. SHC has issued a stay order in this regard. It may be mentioned here that INCL has filed a case against NBP in the High Court. It is being felt that NBP action INCL is in violation with the banking regulations in place. It is also believed that pressure is being exerted on the high ups running financial affairs of the government to take action against Jang/ Geo Group because it had brought into light President Asif Ali Zardari alleged involvement in a corruption case. Jang Group has been banned for some period from receiving government advertisements.