2005 PLP 1700 (CLD)
Messrs ZAHEER ASSOCIATES through Sole Proprietor and 2 others — Appellants Versus ALTOWFEEQ INVESTMENT BANK LTD. — Respondent
| Citation | 2005 PLP 1700 (CLD) |
| Forum / Court | Lahore |
| Bench Members | Mian Hamid Farooq and Syed Hamid Ali Shah, JJ |
| Parties | Messrs ZAHEER ASSOCIATES through Sole Proprietor and 2 others — Appellants Versus ALTOWFEEQ INVESTMENT BANK LTD. — Respondent |
| Primary Law | Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2005 PLP 1700 (CLD)?
This judgment primarily cites: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2005 PLP 1700 (CLD)?
The case was heard and decided by the Lahore bench comprising: Mian Hamid Farooq and Syed Hamid Ali Shah, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2005 PLP 1700 (CLD) (Messrs ZAHEER ASSOCIATES through Sole Proprietor and 2 others — Appellants Versus ALTOWFEEQ INVESTMENT BANK LTD. — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Nemo for Appellants.
- Falak Sher for Respondent.
Headnotes / Summary
S. 22
Appeal against judgment of Banking Court
Bank while placing on record photocopy of compromise, had stated that claim of Bank stood settled
Subject-matter of appeal having amicably been settled between parties, and no live issues were left to be decided by High Court, appeal thus had become infructuous
If appellants felt that some issues were still undecided, in that case they could file appropriate application to re-activate proceedings in appeal within specified period.
Judgment & Decree
Learned counsel for the respondent, while placing on record photocopy of compromise dated 6-12-2004, states that claim of respondent-Bank stands settled. In view whereof, as the subject-matter of the appeal has amicably been settled between the parties, therefore, we feel that no live issues are left to be decided by this Court and the appeal has become infructuous. However, if the appellants feel that some issues are still undecided, in that case they can file an appropriate application to re-activate the proceedings in the appeal within a period of two months from today. Office is to retain the record of' this appeal for three months. Appeal stands finally disposed of having become infructuous. H.B.T./Z-77/L Order accordingly.