Faisal Sakhi in hot water, cheque bouncing scandal surfaces

Bouncing of cheque is among the common financial offences which can land the issuer into legal trouble and damage his or her credit rating. Such incidents have become very common not only amongst the lower or middle class of the society but even among the elites.

Faisal Sakhi Butt, a Pakistani businessman and politician, and son of Late Muhammad Sakhi Butt, the founder of the Islamabad Chamber of Commerce and Industry (ICCI) always prided himself on being financially well organized. According to the reports of Baaghi TV, Butt borrowed a substantial amount of money in August 2019 from Sehar Kamran, a politician from Pakistan People’s Party (PPP) and gave post-dated cheques as a way to guarantee payment.

However, as per the details, five cheques worth PKR 360,000/- each, have been bounced till date due to insufficient funds in the account. On top of that, one cheque was cleared on April 22, 2020 but the amount got reversed the very next day, which shows the influence and hold he has over the bank.

Moreover, Faisal Sakhi Butt gave her cheques of the account where he is not keeping his money or keeping a lower amount in his account. According to the sources, Baaghi TV has learnt that she has been facing threats by the businessman and being told to stay quiet otherwise she will have to face some serious consequences.

According to the details, Sehar Kamran submitted applications to the Station House Officer (SHO) of Margalla Police Station, Islamabad and the SHO of Secretariat Police Station, Islamabad to register First information report (FIR) against Faisal Sakhi Butt.

‘Mr. Faisal Sakhi Butt owe me this money and guaranteed the return of amount through signed cheques, now his cheques are bouncing. I request you to kindly lodge a FIR against Mr Faisal Sakhi Butt and take necessary actions for the recovery of my money,’ stated the application. According to the details, another cheque has bounced today for which another complain will be lodged tomorrow against the businessman.

According to the Pakistan Penal Code (PPC) 489-F, “whoever dishonestly issues a cheque towards re-payment of a finance or fulfillment of an obligation which is dishonored on presentation, shall be punishable with imprisonment which may extend to one year, or with fine or with both.”

Faisal Sakhi Butt joined his father’s business in 1990 and took up the legacy of his late father who had established the business in 1956 by the name of Mikarna INC. The company’s core business is construction and real estate development.

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