A Federal High Court in Lagos, on Wednesday, barred the Financial Reporting Council (FRC) from interfering in the operations of Stanbic IBTC Holdings Plc pending the final determination of a suit against the regulatory agency.

Justice Ibrahim Buba, in a ruling on the motion for interlocutory injunction filed by Stanbic IBTC Holdings, also restrained the council from inviting the company's entire Board of Directors to any meeting in connection with any statutory investigation of its financial statements until the final determination of the pending suit.

The judge, however, refused the third leg of the reliefs sought by Stanbic IBTC with regard to restraining FRCN from taking any step to enforce an invitation of October 16, 2015 from the council to attend a meeting.

It would be recalled that Stanbic IBTC Holdings had dragged FRC and the National Office for Technology Acquisition and Promotion (NOTAP) to court over allegations of material mis-statements in its financial accounts which culminated in a N1billion fine.

At Wednesday's proceedings, the judge equally granted an application by Stanbic IBTC Holdings to amend its originating summons.

This was after dismissing the objections of FRCN's lawyer, Olusina Sofola (SAN), to the application.

Sofola had argued that the application for amendment is akin to putting something on a dead issue.

Sofola added that if the plaintiff had any fresh grievances, it should file a fresh suit. He then urged the court to reject the request for an amendment.

However, Stanbic IBTC's lawyer, Professor Fidelis Odita (SAN), while urging the court to allow the amendment, disclosed that the powers of the court to grant the request could be exercised at anytime as long as judgment has not been delivered in the suit.

The request for amendment of the plaintiff's originating summons was eventually granted by Justice Buba.

The matter has been adjourned till Friday for the hearing of the motion for joinder by an interested party.