2014 PLP 1341 (CLD)

AYESHA A. MALIK, J.

This is an application for interim decree in the sum of Rs.590,947,714 on the basis of admissions made by defendants in their P.L.A. No. 155-B with respect to the claim of the plaintiff in the above titled suit.

2. The case of the plaintiff is that the defendants in the P.L.A. No.155-B have admitted the net amount of Rs.590,947,714 as due and payable to the plaintiff. The defendants have also relied upon the same documents as attached with the plaint including the statement of accounts, dates and figures, hence, under the circumstances; the interim decree can be issued for the admitted amount. Learned counsel for the plaintiff has relied upon Order XII, Rule 6 of the Civil Procedure Code, 1908 to argue that if at any stage of a suit an admission has been made in the pleadings or otherwise then any party can apply to the court for a judgment or order based upon the admission made. In such a situation the person does not have to wait for the determination of any other question between the parties and the court can pass any such order as it deems fit. Learned counsel argued that the court can exercise its power under section 7(a) read with section 11 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 and for the balance amount arguments may be heard as to whether it is a case in which leave needs to be granted.

3. Learned counsel for the defendants argued that under the Financial Institutions (Recovery of Finances) Ordinance, 2001 if an interim decree is issued then for the balance amount leave has to be granted. He argued that for all disputed amounts leave must be granted in the event that an admission is relied upon. Learned counsel has argued that if this court was to pass an interim decree then since the balance amount is disputed by the defendants leave should be granted.

4. I have heard the learned counsel for the parties and reviewed the record available on the file.

5. A review of the P.L.A. 155-B shows that the amount of Rs.590,947,714 is admitted by the defendants as net amount due and payable to the plaintiff-Bank. The suit filed by the plaintiff is for Rs.1,539,878,000 under section 9 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Section 11 of the said Ordinance read with Order XII, Rule 6 of the Civil Procedure Code, 1908 empowers this court to pass an interim decree on the basis of admitted amount. In the instant case the defendants are yet to argue their PLA. Under the circumstances the amount of Rs.590,947,714 stands admitted, therefore, a preliminary decree is issued against the defendants Nos.1 to 6 jointly and severally in the amount of Rs.590,947,

714. For the balance amount arguments on the PLA shall be heard on 24-3-2014. KMZ/B-5/L Order accordingly.