1982 PLP 2606 (CLC)
NATIONAL BANK OF PAKISTAN‑Plaintiff Versus M/s. OCEAN INDUSTRIES LTD. AND 5 OTHERS‑Defendants
| Citation | 1982 PLP 2606 (CLC) |
| Forum / Court | Karachi |
| Bench Members | K.A. Ghani, J |
| Parties | NATIONAL BANK OF PAKISTAN‑Plaintiff Versus M/s. OCEAN INDUSTRIES LTD. AND 5 OTHERS‑Defendants |
| Primary Law | Civil Procedure Code (V of 1908)‑‑ |
Q1: What are the key laws and sections cited in 1982 PLP 2606 (CLC)?
This judgment primarily cites: Civil Procedure Code (V of 1908)‑‑ as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1982 PLP 2606 (CLC)?
The case was heard and decided by the Karachi bench comprising: K.A. Ghani, J.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1982 PLP 2606 (CLC) (NATIONAL BANK OF PAKISTAN‑Plaintiff Versus M/s. OCEAN INDUSTRIES LTD. AND 5 OTHERS‑Defendants). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Date of hearing : 1st October, 1981.
Headnotes / Summary
‑--O IX, r. 6‑Ex parte proceedings‑Plaintiff filing suit claiming various reliefs against defendants jointly and severally‑Suit against one defendant abated and against others proceeded ex parte‑One officer of plaintiff's Bank fully conversant with facts of case filing affidavit as directed, in full support of plaintiffs' claim, namely defendant No. 1 obtained advances from plaintiffs from time to time but defendants failed and neglected to repay outstanding balance Held, according to evidence by way of affidavit supported by docu mentary evidence, defendants' liability to pay to plaintiffs (as alleged in plaint) conclusively proved. Muhammad Saleem for Mansoorul Aron for Plaintiff: Memo for Defendants.
Judgment & Decree
5. The witness Mr. Syed Ziauddin for the plaintiff bank has deposed that the defendants requested the plaintiff bank to grant cash credit limit of Rs. 21,00,000 to defendant No. 1 which the plaintiffs agreed to grant to defendant No. I up to the said limit on the following conditions :‑ (i) That defendant No. 1‑ (a) create a second mortgage in favour of the plaintiff' on its Factory ship 'MAHIA' and its Trawler 'AL‑HILAL' (already under the first mortgage of the Industrial Development Bank of Pakistan) and create a first charge on its remaining 5 Trawlers "together with 70 Bales of their Trawl Gear Equipment ; (b) pledge with the plaintiffs its Fish Meal Plant ; (c) hypothecate with the plaintiff its stocks of shrimps and book debts and assets; (d) create a floating charges in favour of the plaintiff on Defendant No. 1's Assets. (ii) That Defendants Nos. 2 to 6 guaranteed repayment to the plaintiff by Defendant No. I of the said advances. (iii) That the immovable property of the late Mr. Mumtaz Hasan Qizilbash be mortgaged with the plaintiff together with the properties belonging to the other Direct or Shareholders of the defendant No. I."
6. It is further deposed by the witness in his affidavit on solemn affirmation that in pursuance of the said cash credit limit defendant No. 1 obtained advances from the plaintiffs from time to time and the repayment c of the advances was secured by ‑ "(i) Demand Promissory Note (by way of collateral security dated the 13th April, 1964 executed b‑ defendant No. 1 in favour of Defendants Nos. 2 to 6 for Rs. 21,00,000, payable with interest at 2 per cent. above Bank rate minimum at 6 per cent per annum with monthly rests; the said Promissory Note having .been endorsed and delivered by the payees to and in favour of the "plaintiff". The said Promissory Note is marked Exh. "A". (ii) Guarantee dated the 13th April, 1964 of Defendants Nos. 2 to 6 on bank's form `A' Special. The witness produced the said Guaran tee as Exh. B'. (iii) Mortgage by way of second charge on Defendant No. 1's Factory ship 'MAHIA" and its Trawler, "AL‑HILAL" by Mortgage‑Deeds on statutory forms, respectively dated 11‑4‑1964 and 5‑5‑1964. (iv) Pledge of defendant No. 1's Fish Meal Plant lying at the go downs of M /s. Siddiq & Sons at 3 West Wharf Road, Karachi. The pledge letter dated 13‑4‑1964 is marked as Exh. `C'. (v) Hypothecation of Defendants No. I's Stocks of Shrimps and Fish and Book‑Debts and Assets, as per agreements of hypothe cation dated the 13‑4‑1964 which have been produced as Exh. `D' and Exh. 'E'. (vi) Floating charge on Defendant No. 1's Assets and undertakings, as per writing dated the 13th April, 1964, the said undertakings marked as Exh. `E'.
7. The witness further deposed on oath that the defendants have failed and neglected to arrange for the mortgage with the plaintiff of de fendant No. 1's five Trawlers with their 70 Bales of Trawl Gear Equipment, immovable properties of the late Mr. Mumtaz Hasan Qizilbash and the immovable properties of the other Directors/shareholders of defendant No.
1. The amount advanced being repayable to the plaintiffs on demand and as on 4th August, 1964 there being due and owing from defendant No. I a sum of Rs. 4,99,992.73 a telegraphic notice was given on 10th September, 1964 by the plaintiffs calling upon the defendants to repay the outstanding balance which the said defendants failed and neglected to do. According to the evidence given on oath by way of affidavit, supported by documentary evidence marked Exhs. A to J‑3 and 106 cheques pertaining to the accounts of the defendants marked as Exhs. K‑ I to K‑106 it is conclusively proved that the defendants were liable to pay to the plaintiffs Rs. 4,99,363.19 as on 1311‑1974 when the suit was filed with interest at 2 per cent. above Bank rate, and that the 'defendants continue to be so liable.
8. The pleas raised by the defendants in their written statement are not supported by any evidence. The defendants who have chosen to remain absent, have not pressed the issues raised by them.
9. The plaintiffs suit is accordingly decreed against defendants Nos. I to 5 jointly and severally as prayed. K. M. A. Suit decreed.