2004 PLP 973 (CLD)
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN through Attorney‑‑‑Plaintiff Versus Messrs PROMETALS LTD. and 9 others‑‑‑Defendants
| Citation | 2004 PLP 973 (CLD) |
| Forum / Court | Lahore |
| Bench Members | Mian Hamid Farooq, J |
| Parties | INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN through Attorney‑‑‑Plaintiff Versus Messrs PROMETALS LTD. and 9 others‑‑‑Defendants |
| Primary Law | Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)‑‑‑ |
Q1: What are the key laws and sections cited in 2004 PLP 973 (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 2004 PLP 973 (CLD)?
The case was heard and decided by the Lahore bench comprising: Mian Hamid Farooq, J.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2004 PLP 973 (CLD) (INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN through Attorney‑‑‑Plaintiff Versus Messrs PROMETALS LTD. and 9 others‑‑‑Defendants). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
‑‑‑‑‑S.10(1)‑‑‑Suit for recovery‑‑‑Failure to file leave to defend within the statutory period‑‑‑Consequence‑‑Where some of the defendants failed to file application for leave to defend the suit, as provided under the law, the allegations made in the plaint, shall be deemed to be admitted by the said defendants‑‑Suit was decreed in favour of the Bank and against the said defendants. Messrs Ahmad Autos and another v. Allied Bank of Pakistan Limited PLD 1990 SC 497 and Messrs Qureshi Salt & Spices Industries, Khushab and another v. Muslim Commercial Bank Limited, Karachi 1999 SCMR 2353 ref. Shoaib Zafar for Plaintiff. Ijaz‑ul‑Hassan and Khawaja Asif for Defendants Nos. 1 and 4 to
8. Nemo for other Defendants.
Judgment & Decree
‑‑‑‑‑S.10(1)‑‑‑Suit for recovery‑‑‑Failure to file leave to defend within the statutory period‑‑‑Consequence‑‑Where some of the defendants failed to file application for leave to defend the suit, as provided under the law, the allegations made in the plaint, shall be deemed to be admitted by the said defendants‑‑Suit was decreed in favour of the Bank and against the said defendants. Messrs Ahmad Autos and another v. Allied Bank of Pakistan Limited PLD 1990 SC 497 and Messrs Qureshi Salt & Spices Industries, Khushab and another v. Muslim Commercial Bank Limited, Karachi 1999 SCMR 2353 ref. Shoaib Zafar for Plaintiff. Ijaz‑ul‑Hassan and Khawaja Asif for Defendants Nos. 1 and 4 to
8. Nemo for other Defendants. Let a copy of this application be handed over to the learned counsel for the plaintiff with the directions to file the reply to the said application within a period of 20 days with an advance copy to the learned counsel for the contesting defendants. Case to come up on 18‑3‑2003 for arguments.
2. Record of the case manifests that upon the presentation of the plaint, summons as prescribed under section 9(5) of Act, 2001 were issued to all the defendants. Pursuant thereto only aforenoted defendants have filed the leave application, while the other defendants have not filed any application seeking leave to defend the suit, as provided under the law. The period provided under the law for filing such an application‑has expired as the publication in the newspapers was affected on 9‑1‑2003. Under the law, the allegations made in the plaint shall be deemed to be admitted by the said defendants, thus in view of the dictum laid down by the Apex Court of the country in the cases reported as Messrs Ahmad Autos and another v. Allied Bank of Pakistan Limited PLD 1990 SC 497 and Messrs Qureshi Salt & Spices Industries, Khushab and another v. Muslim Commercial Bank Limited, Karachi 1999 SCMR 2353, a decree for the recovery of Rs.141,444,133.52 is passed in favour of the plaintiff‑Bank and against defendants Nos.2, 3, 9 and 10 together with costs of the suit and costs of funds, as provided under section 3(2) of the Ordinance, 2001. M.A.W./I‑185/L Suit decreed.