2002 PLP 1004 (CLD)
NATIONAL BANK OF PAKISTAN through Zonal Head, City Zone, Lahore‑‑‑Appellant Versus Messrs LIFE PAPER STORE through Partners and 7 others‑‑‑Respondents
| Citation | 2002 PLP 1004 (CLD) |
| Forum / Court | Lahore |
| Bench Members | Mian Saqib Nisar and Mian Hamid Farooq, JJ |
| Parties | NATIONAL BANK OF PAKISTAN through Zonal Head, City Zone, Lahore‑‑‑Appellant Versus Messrs LIFE PAPER STORE through Partners and 7 others‑‑‑Respondents |
| Primary Law | Banking Tribunals Ordinance (LVIII of 1984)‑‑‑ |
Q1: What are the key laws and sections cited in 2002 PLP 1004 (CLD)?
This judgment primarily cites: Banking Tribunals Ordinance (LVIII of 1984)‑‑‑ as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2002 PLP 1004 (CLD)?
The case was heard and decided by the Lahore bench comprising: Mian Saqib Nisar and Mian Hamid Farooq, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2002 PLP 1004 (CLD) (NATIONAL BANK OF PAKISTAN through Zonal Head, City Zone, Lahore‑‑‑Appellant Versus Messrs LIFE PAPER STORE through Partners and 7 others‑‑‑Respondents). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Syed Haider Ali Shah for Appellant.
- Nemo for Respondents.
Headnotes / Summary
‑‑‑Ss. 6 & 9‑‑‑Liquidated damages and mark‑up, entitlement to‑‑‑Banking Tribunal decreed the suit, but did not award liquidated damages and mark‑up to the Bank for cushion period‑‑‑Validity‑‑‑Liquidated damages could not be granted by Banking Tribunal as per reasons given in Allied Bank's case reported as 2001 MLD 1955‑‑‑Mark‑up for 210 days (cushion period) was added in the statement of accounts appended with plaint, which had been erroneously and illegally disallowed by Banking Tribunal, though it was bound under law to award mark‑up to Bank for such period‑‑‑High Court accepted the appeal and modified the impugned judgment and decree by awarding mark‑up to Bank for cushion period. Allied Bank of Pakistan, Faisalabad v. Messrs Aisha Garments and others 2001 MLD 1955 rel.
Judgment & Decree
Syed Haider Ali Shah for Appellant. Nemo for Respondents. The appellant, filed a suit for recovery against the respondents under the provisions of Banking Tribunals Ordinance, 1984, which was decreed by the learned Banking Tribunal vide judgment and decree, dated 9‑1‑1994. However, the Tribunal has refused to award liquidated damages to the appellant and also the mark‑up for the cushion period of 210 days, amounting to Rs.1,03,
000. It is this part of the judgment and decree, which has been challenged by the plaintiff‑Bank through this appeal.
2. None appears on behalf of the respondents, despite being represented by Mr. Azmat Saeed, Advocate, whose name is mentioned in the cause list, thus they are proceeded ex parte.
3. Ex parte arguments heard. As regard non‑award of the liquidated damages, is concerned, suffice it to say that this issue has been conclusively settled by the Division Bench of this Court in the judgment reported as Allied Bank of Pakistan, Faisalabad v. Messrs Aisha Garments, etc. 2001 MLD 1955, thus for the reasons given in the judgment, it is held that the appellant is not entitled to the liquidated damages. As regards the other plea, that the mark‑up for 210 days i.e. cushion period, has been erroneously refused by the Tribunal below. We find that in the statement of the accounts appended with the plaint, mark‑up amounting to Rs.1,03,000 for such cushion period was added, but while passing the impugned judgment and decree, this has been erroneously and illegally disallowed by the Tribunal. The Court under the law was bound to award mark‑up to the appellant of such cushion period. In the light of above, we modify the judgment and decree of the Tribunal and award Rs.1,03,000 mark‑up on cushion period. This appeal is accordingly allowed. S.A. K. / N‑176/ L Appeal allowed.