| Case ID |
0be15d05-d5e4-414b-b1ab-0257d3c4d6dd |
| Body |
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| Case Number |
Regular First Appeal No. 182 of 2009 |
| Decision Date |
Feb 06, 2013 |
| Hearing Date |
Feb 06, 2013 |
| Decision |
The appeal was dismissed as the appellant had voluntarily accepted the validity of the decree by agreeing to pay the decretal amount in installments. The court found that the appellant was estopped from questioning the legality of the Banking Court's decree since they had admitted their liability by making an application for payment in installments. The learned Executing Court had allowed the request for installment payments, thereby reinforcing the validity of the original decree. No substantial evidence was provided by the appellant to challenge the decree, and the court concluded that the appeal lacked merit. |
| Summary |
In the case of Regular First Appeal No. 182 of 2009, the Lahore High Court examined the appeal of Muhammad Rafique against United Bank Limited regarding a financial recovery dispute. The case revolved around the Financial Institutions (Recovery of Finances) Ordinance, 2001, specifically sections 10 and 19, which govern the rights and obligations of financial institutions and their customers. The appellant had taken a loan and failed to repay, leading the bank to file a suit for recovery. Despite the appellant's claims of discrepancies, the court ruled that the appellant had implicitly accepted the validity of the decree by applying for installment payments post-judgment. The court emphasized that the appellant's actions constituted an admission of liability, thereby dismissing the appeal. This case highlights the importance of understanding financial agreements and the implications of accepting terms post-decree. Keywords for optimization include 'financial recovery law', 'court appeal process', 'banking decree validity', and 'legal obligations of financial institutions'. |
| Court |
Lahore High Court
|
| Entities Involved |
United Bank Ltd.,
M/s. Muhammad Shafique and Brothers
|
| Judges |
IJAZ AHMAD,
SYED IFTIKHAR HUSSAIN SHAH
|
| Lawyers |
M. Manzoor-ul-Haq,
Muhammad Saleem Iqbal
|
| Petitioners |
MUHAMMAD RAFIQUE
|
| Respondents |
UNITED BANK LIMITED
|
| Citations |
2013 SLD 2105,
2013 CLD 678
|
| Other Citations |
Not available
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001
|
| Sections |
10,
19
|