MCB Bank Replies on ARY News Allegations

ARY vs MCBThe public notice recently published in Daily Dawn from the solicitors of MCB, Mian Muhammad Mansha which came in reply of a media campaign being carried out on ARY News against MCB Bank Limited.

The notice was intended for the information of public, the notice read that all allegations against MCB and Mian Muhammad Mansha are baseless. The real reason whereas of this baseless campaign is to hide their own liability of US$ 51 million. ARY group’s founder Haji Abdul Razzaq Yaqoob (late) is defaulter of MCB Bank Limited. The notice read that multiple cases are pending in the Sindh high court at Karachi between MCB and people now part of ARY Group, his family is managing the ARY business after the death of Haji Abdul Razzaq Yaqoob. The cases include the suit of recovery of the hefty amount owed by Haji Abdul Razzaq Yaqoob (late) as the sole proprietor of ARY Traders. The current management of ARY Communications is using their channel (ARY News) to pressurize MCB so it may give up its legitimate claim against the money. It further added that Anchors are working on the same agenda and are making different pointless statements without any verification.

MCB has also put this case in front of Pakistan Electronic Media Regulatory Authority (PEMRA) in regards to ARY’s role which contradicts professional ethics. Recently another suit has also been filed for damages against ARY Communications in the Sindh High Court by MCB.

Posted in: Journalism

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