Determined liability

Petitioner was one of the directors of the company which borrowed finance facility of Rs.125.665 million and wilfully defaulted in payment of the same

Suit filed by financial institution was decreed in its favour and against petitioner as well as other directors

Petitioner sought quashing of reference filed by National Accountability Bureau on the plea that she was not liable to repay the facility

Validity

Joint and several liabilities of petitioner being a borrower were determined through judicial disposition as compromise decree was drawn by High Court in banking suit against petitioner and three other judgment debtors, which had attained finality

Petitioner and others were jointly and severally held liable to pay decretal amount along with cost of funds from the date of default till realization and mechanism provided under National Accountability Ordinance, 1999, could be invoked

Loan amount released by financial institution was not repaid by petitioner and others and the same constituted act of 'wilful default'

High Court declined to quash proceedings, as the matter was sub judice before Trial Court

Petition was dismissed, in circumstances.