| Case ID |
036288ee-bfb5-49fb-94f7-6ac119e43b77 |
| Body |
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| Case Number |
Judicial Miscellaneous No.15 of 1999 |
| Decision Date |
Feb 14, 2000 |
| Hearing Date |
Feb 14, 2000 |
| Decision |
The Sindh High Court ruled in favor of the leasing company, HABIB BANK LIMITED, stating that the lessee, DOMESTIC APPLIANCES (PVT.) LTD., was required to return the leased vehicle upon the expiration of the lease agreement. The court emphasized that as the owner of the property, the leasing company was entitled to regain possession of the vehicle after the lessee went into liquidation. The ruling was based on the terms stipulated in the lease agreement, particularly Article 23, which mandates the lessee to surrender the leased equipment upon termination or expiration of the lease. The court directed the official liquidator, Bashir Ahmad Khan, to hand over the vehicle to the applicant, HABIB BANK LIMITED. |
| Summary |
This case revolves around a leasing dispute involving HABIB BANK LIMITED and DOMESTIC APPLIANCES (PVT.) LTD. The leasing company had leased a vehicle to the lessee for a defined period, which expired while the lessee was in liquidation. The court affirmed the leasing company's right to reclaim the vehicle, emphasizing the importance of adhering to the lease agreement terms. The decision highlights the legal implications of leasing contracts in the context of liquidation, making it a significant reference for future cases involving lease financing. Keywords such as 'lease financing', 'liquidation', 'vehicle return', and 'leasing agreements' are crucial for understanding the legal landscape surrounding this case, offering valuable insights for legal professionals and businesses engaged in lease transactions. |
| Court |
Sindh High Court
|
| Entities Involved |
HABIB BANK LIMITED,
DOMESTIC APPLIANCES (PVT.) LTD.,
ORIX LEASING PAKISTAN LIMITED,
Bashir Ahmad Khan
|
| Judges |
SHABBIR AHMED
|
| Lawyers |
Bashir Ahmad Khan,
Ismail Merchant
|
| Petitioners |
HABIB BANK LIMITED
|
| Respondents |
DOMESTIC APPLIANCES (PVT.) LTD.,
ORIX LEASING PAKISTAN LIMITED
|
| Citations |
2003 SLD 777,
2003 CLD 776
|
| Other Citations |
1st Appeal No.44 of 1998
|
| Laws Involved |
Civil Procedure Code (V of 1908)
|
| Sections |
Not available
|