2005 PLP 647 (CLD)
NAZIMUDDIN — Plaintiff Versus Messrs THE BANK OF KHYBER and another — Defendants
| Citation | 2005 PLP 647 (CLD) |
| Forum / Court | Karachi |
| Bench Members | N/A |
| Parties | NAZIMUDDIN — Plaintiff Versus Messrs THE BANK OF KHYBER and another — Defendants |
| Primary Law | Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2005 PLP 647 (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 647 (CLD)?
The case was heard and decided by the Karachi bench comprising: N/A.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2005 PLP 647 (CLD) (NAZIMUDDIN — Plaintiff Versus Messrs THE BANK OF KHYBER and another — Defendants). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- In these proceedings the common issue in both suits is that of accounts. According to Mr. Saalim Salam Ansari, his clients have made excess payment to the Bank and in this regard the parties have led evidence in Suit No.B-20 of 2002, which suit is pending in this Court for arguments. On the other hand, Mr. Arshad Tayebaly, Advocate, who represents Plaintiff in Suit No.B-39 of 2003 states that the defendant (Plaintiff in Suit No.B-20 of 2002) has to pay certain amounts for which the Bank has filed suit for recovery of the amount before the Banking Court and on transfer the said suit is now being tagged with the Suit No.B-20 of 2002. Suit No.B-39 of 2003 filed by the Bank is at the stage of hearing of application for leave to defend filed by the defendant therein. Both the learned counsel suggest that a Chartered Accountant be appointed to take account of both the parties and determine the liability. Prayers in both the suits would now be confined to the account and rest of the prayers would not be pressed by both the parties except the prayer in regard to the properties mortgaged by the Bank and said prayer would be subject to the proposed report of the Chartered Accountant. By consent, Messrs Liaquat Zaman & Company, Chartered Accountants, having office in Progressive Plaza, Beaumont Road, behind PIDC, Karachi, are appointed Chartered Accountant to undertake exercise of determination of liability of the parties after taking accounts from both the parties. The Chartered Accountant shall submit their report within two months from the date of communication of the order. Fee of the Chartered Accountant is tentatively fixed at Rs.100,000 to be shared equally by both the parties. To come up after the report of the Chartered Accountant has been submitted in the above terms.
Headnotes / Summary
S. 9
Common issue in both the suits (one by the bank and the other by defendants) was about the accounts with the assertions that borrowers had made excess payments to the bank and in that regard both the parties had led evidence in both the suits while the Bank had claimed that the borrowers had to pay certain amounts for which the Bank had filed the suit for recovery in the Banking Court which was at the stage of hearing of application for leave to defend by the defendants (borrowers)
Counsel of both the parties suggested to the High Court that a Chartered Accountant be appointed to take accounts of both the parties and determine their respective liabilities
Prayers in both the suits would now be confined to the accounts and rest of the prayers would not be pressed by both the parties except with regard to the properties mortgaged by the Bank which too would be subject to the proposed report of the Chartered Accountants
High Court, by consent, appointed Chartered Accountants to undertake exercise of determination of liability of the parties after taking accounts from both the parties and to submit their report within two months from the date of communication of the order.
Judgment & Decree
In these proceedings the common issue in both suits is that of accounts. According to Mr. Saalim Salam Ansari, his clients have made excess payment to the Bank and in this regard the parties have led evidence in Suit No.B-20 of 2002, which suit is pending in this Court for arguments. On the other hand, Mr. Arshad Tayebaly, Advocate, who represents Plaintiff in Suit No.B-39 of 2003 states that the defendant (Plaintiff in Suit No.B-20 of 2002) has to pay certain amounts for which the Bank has filed suit for recovery of the amount before the Banking Court and on transfer the said suit is now being tagged with the Suit No.B-20 of 2002. Suit No.B-39 of 2003 filed by the Bank is at the stage of hearing of application for leave to defend filed by the defendant therein. Both the learned counsel suggest that a Chartered Accountant be appointed to take account of both the parties and determine the liability. Prayers in both the suits would now be confined to the account and rest of the prayers would not be pressed by both the parties except the prayer in regard to the properties mortgaged by the Bank and said prayer would be subject to the proposed report of the Chartered Accountant. By consent, Messrs Liaquat Zaman & Company, Chartered Accountants, having office in Progressive Plaza, Beaumont Road, behind PIDC, Karachi, are appointed Chartered Accountant to undertake exercise of determination of liability of the parties after taking accounts from both the parties. The Chartered Accountant shall submit their report within two months from the date of communication of the order. Fee of the Chartered Accountant is tentatively fixed at Rs.100,000 to be shared equally by both the parties. To come up after the report of the Chartered Accountant has been submitted in the above terms. M.B.A./N-53/K Order accordingly.