2005 PLP 1633 (CLD)
AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN through Manager — Appellant Versus SHAFQAT MAHMOOD — Respondent
| Citation | 2005 PLP 1633 (CLD) |
| Forum / Court | Lahore |
| Bench Members | N/A |
| Parties | AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN through Manager — Appellant Versus SHAFQAT MAHMOOD — Respondent |
| Primary Law | Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2005 PLP 1633 (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 1633 (CLD)?
The case was heard and decided by the Lahore 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 1633 (CLD) (AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN through Manager — Appellant Versus SHAFQAT MAHMOOD — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Nemo for Respondent.
Headnotes / Summary
Ss. 9 & 22
Facility extended to respondent was for a sum of Rs.4,52,000 and he had paid Rs. 70, 000
By adjusting said amount, Banking Court, proceeded to decree suit for Rs.5,18,313 and declined to decree the insurance charges and claim for liquidated damages
Nothing was brought on the file to prove insurance cover/claim
Discretion so exercised by Banking Court hardly called for interference by Appellate Court.
Judgment & Decree
SYED ZAHID HUSSAIN, J.
A suit for recovery of amount of Rs.7,07,320, instituted by the appellant-Bank was decreed by the learned Banking Tribunal, Faisalabad to the extent of Rs.5,88,
313. This is appeal by Plaintiff Bank that the decree should have been for the whole of the suit amount.
2. We have heard the learned counsel for the appellant and perused the record with his assistance. Statedly the facility extended to the respondent was for a sum of Rs.4,52,
000. He had paid a certain amount i.e. Rs.70,
000. By adjusting the same, the learned Chairman Banking Tribunal, Faisalabad, proceeded to decree the suit accordingly for sum of Rs.5,18,313 and declined to decree insurance charges and claim for liquidated damages. It was found by him that there was nothing brought on the file to prove insurance cover/claim. The discretion so exercised by him hardly calls for interference by us. Even otherwise law as to liquidated damages is quite settled vide Habib Bank Ltd. v. Messrs Farooq Compost Fertilizer Corporation Ltd. and 4 others 1993 MLD 1571; Allied Bank of Pakistan Limited Faisalabad v. Messrs Aisha Garments through Proprietor and 2 others 2001 MLD 1955; Saudi-Pak Industrial and Agricultural Investment Company (Pvt.) Limited, Islamabad v. Mohib Textile Mills Limited Lahore and 3 others 2002 CLD 1170 and National Development Finance Corporation v. Messrs Millrock Quarring (Pvt.) Ltd. and 7 others 2002 CLD 1382. It has been stated before us that the decree stand finally satisfied and executed. In view of the above, we find no merit in this appeal, which is dismissed accordingly. No order as to costs. H.B.T./A-779/L Appeal dismissed.