2005 PLP 1742 (CLD)
Messrs REDCO TEXTILES LIMITED and 7 others — Appellants Versus UNITED BANK LIMITED — Respondent
| Citation | 2005 PLP 1742 (CLD) |
| Forum / Court | Lahore |
| Bench Members | N/A |
| Parties | Messrs REDCO TEXTILES LIMITED and 7 others — Appellants Versus UNITED BANK LIMITED — Respondent |
| Primary Law | Financial Institutions (Recovery of Finances), Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2005 PLP 1742 (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 1742 (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 1742 (CLD) (Messrs REDCO TEXTILES LIMITED and 7 others — Appellants Versus UNITED BANK LIMITED — Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Salman Akram Raja for Respondent/Applicant.
Headnotes / Summary
Ss. 9 & 22
Suit for, recovery of loan
Parties having compromised, filed application that appeal be decided in terms of said compromise
High Court accepting said application, modified judgment and decree passed by Banking Court in terms of said compromise and compromise was made a part of the decree.
Judgment & Decree
C.M. No. 1-C of 2004 Notice to the appellant. The learned counsel for the appellants is present and accepts the notice on behalf of the appellants.
2. This is a joint application on behalf of the appellant and the respondent-decree-holder under Orders XXIII, rule 3, Order XLI, rule 33 and section 107 read with section 151, C.P.C. for passing of an amended decree on the basis of compromise. The parties have reached to a compromise on the basis of agreement dated 20-12-2003, which has been placed on the record as Mark/ l. Both the parties agree that the appeal be decided in terms of the compromise/ agreement Mark-1. Consequently, this application is accepted. The judgment and decree dated 17-11-1999 passed by the learned Single Judge in C.O.S. No. 146 of 1998 is modified and the suit of the respondent-plaintiff is decreed in accordance with the terms of compromise/ agreement Mark-1, which shall be made a part of the decree. This appeal is disposed of in the above terms. H.B.T./R-24/L Order accordingly.