Bank defaulter
Bank defaulter legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
Contentions of candidate were that loan was obtained by a company of which he was a Director, but the company entered into compromise with the creditor and as such he had no further liability and that his ownership in the company was to only the extent of 1.43%
Validity
Candidate had a minor shareholding in the company with no controlling interest
Personal guarantee given by candidate did not bring him within the definition of a "defaulter"
Order of Returning Officer was set aside and the candidate was allowed to contest the elections.
Term "he has obtained loan" appearing in Art.63(1)(n) of the Constitution included loan obtained by a candidate or his business or by a corporate entity in which the candidate held majority shareholding establishing his control and management over the said business of corporate entity.
Write-off date for the purposes of Art.63(1)(n) of the Constitution was before the filing of the nomination papers.
"Bank defaulter", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/124942249
Precedents & Case Laws citing "Bank defaulter"
2019 Y L R 643
Syed SHAFQAT HUSSAIN SHAH — Appellant Versus RETURNING OFFICER and another — Respondents
Court: Sindh2010 G B L R 305
and others — Petitioners Versus KARIM AHMED SHAH and others — Respondents
Court: Supreme Appellate Court2013 C L C 1512
MUHAMMAD YAQOOB SHEIKH — Petitioner Versus ELECTION TRIBUNAL (MULTAN BENCH) and 4 others — Respondents
Court: Lahore2011 C L D 1168
DG EPA — Complainant Versus WALID JUNAID STEEL MILLS, SHEIKHUPURA — Respondent
Court: Environmental Tribunal Lahore1998 S C M R 1899
BALOCHISTAN TRADING COMPANY (PVT.) LTD. and others‑‑‑Petitioners Versus NATIONAL BANK OF PAKISTAN and another‑‑‑Respondents
Court: Supreme Court of Pakistan2006 M L D 3
JAVED TARIQ — Petitioner Versus DISTRICT RETURNING OFFICER, DISTRICT VEHARI and 5 others — Respondents
Court: Lahore2005 C L C 219
Mian MUHAMMAD RIAZ ‑‑‑ Petitioner Versus Khawaja MUHAMMAD ASIF and 4 others‑‑‑Respondents
Court: Election Tribunal Punjab2007 C L D 165
MUSLIM COMMERCIAL BANK LTD. through Secretary and 2 others — Plaintiffs Versus ABDUL HAMID ADAMJEE and 6 others — Defendants
Court: Karachi2024 M L D 1257
Sardar Muhammad AwaIs Nakai — Appellant Versus Rana Sikandar Hayat and another — Respondents
Court: Lahore2002 Y L R 2344
Brig. (Retd.) FARRAKH HUSSAIN SHAH‑‑‑Petitioner Versus ELECTION TRIBUNAL, LAHORE and another‑‑‑Respondents
Court: Lahore