2006 PLP 1968 (SCMR)
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN LTD. — Petitioner Versus BLUE STAR HOTEL (PVT.) LTD. and others — Respondents
| Citation | 2006 PLP 1968 (SCMR) |
| Forum / Court | Supreme Court of Pakistan |
| Bench Members | Javed Iqbal and Karamat Nazir Bhandari, JJ |
| Parties | INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN LTD. — Petitioner Versus BLUE STAR HOTEL (PVT.) LTD. and others — Respondents |
| Primary Law | Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) |
Q1: What are the key laws and sections cited in 2006 PLP 1968 (SCMR)?
This judgment primarily cites: Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2006 PLP 1968 (SCMR)?
The case was heard and decided by the Supreme Court of Pakistan bench comprising: Javed Iqbal and Karamat Nazir Bhandari, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2006 PLP 1968 (SCMR) (INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN LTD. — Petitioner Versus BLUE STAR HOTEL (PVT.) LTD. and others — Respondents). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Khawaja Muhammad Farooq, Senior Advocate Supreme Court and Ejaz Muhammad Khan, Advocate-on-Record for Petitioner.
- Malik Shahzad Ahmed, Advocate Supreme Court and Ch. Akhtar Ali, Advocate-on-Record for Respondents.
- Heard Khawaja Muhammad Farooq, learned Senior Advocate Supreme Court on behalf of petitioner, Malik Shahzad Ahmed, learned Advocate Supreme Court for respondent, scanned the entire record with their eminent assistance and perused the judgment impugned with care and caution. We are inclined to grant leave, inter alia, on the following points:
Headnotes / Summary
(On appeal from the judgment, dated 5-12-2005 of the Lahore High Court, Rawalpindi Bench, Rawalpindi passed in E.F.A. No.3 of 2002).
S. 18
State Bank of Pakistan Circular No.19
Constitution of Pakistan (1973), Art.185(3)
Change of decretal amount
During execution proceedings, Executing Court in view of the Circular No.19 issued by State Bank of Pakistan, changed the decretal amount
Leave to appeal was granted by Supreme Court to consider, whether terms and conditions as enumerated in Circular No.19 issued by State Bank of Pakistan had been misinterpreted and misconstrued by the High Court; whether any amendment, deletion insertion, addition or extension in stipulated period mentioned in Circular No.19 issued by State Bank of Pakistan could have been made by High Court; whether package, dated 15-2-1999, was given to respondent pursuant to Circular No.19 issued by State Bank of Pakistan and any further relief under the Circular could have been given by High Court after expiry of the Circular when it was no more in existence; and whether Circular No.19 issued by State Bank of Pakistan could have changed or modified the decree passed on 12-4-2001, by Banking Court, which had attained finality.
Judgment & Decree
Heard Khawaja Muhammad Farooq, learned Senior Advocate Supreme Court on behalf of petitioner, Malik Shahzad Ahmed, learned Advocate Supreme Court for respondent, scanned the entire record with their eminent assistance and perused the judgment impugned with care and caution. We are inclined to grant leave, inter alia, on the following points: (i) Whether the terms and conditions as enumerated in Circular No.19 issued by the State Bank of Pakistan have been misinterpreted and misconstrued by the learned Division Bench of the Lahore High Court, Rawalpindi Bench? (ii) Whether any amendment, deletion, insertion, addition or extension in the stipulated period mentioned in Circular No.19 issued by the State Bank of Pakistan could have been made by the learned Division Bench? (iii) Whether the package dated 15-2-1999 was given to the A respondents pursuant to Circular No.19 issued by the State Bank of Pakistan and any further relief under the said circular could have been given by the learned Division Bench after the expiry of the circular when it was no more in existence? (iv) Whether Circular No.19 issued by the State Bank of Pakistan could have changed or modified the decree passed in tune of Rs.79,06,785.87 on 12-4- 2001 by the learned Judge Banking Court vide judgment/decree dated 24-11- 1998, which had attained finality? This appeal may be fixed at some early date and till disposal of this appeal operation of the judgment impugned shall remain suspended. M.H./I-17/SC Leave granted.