| Case ID |
0c33a96f-4f62-40cb-a9ae-7adf8bb77b10 |
| Body |
View case body. Login to View |
| Case Number |
Regular First Appeal No.326 of 2000 |
| Decision Date |
Feb 03, 2003 |
| Hearing Date |
|
| Decision |
The Lahore High Court dismissed the appeal of MST. GHULAM KUBRA and others, who were the legal heirs of the deceased mortgagee, Ghulam Dastagir. The appellants contended that the mortgage deed and personal guarantee were forged documents, allegedly executed after the death of Ghulam Dastagir. However, the court found that the mortgage deed was executed on December 11, 1991, when Ghulam Dastagir was alive, and that the death certificate presented by the appellants was not a certified copy. The court held that even if the personal guarantee was invalid, the mortgage deed remained in effect. The appellants, along with the principal borrowers, were found jointly and severally liable for the loan amount. The High Court upheld the decision of the Banking Court and dismissed the appeal in limine, concluding that there was no merit in the arguments presented by the appellants. |
| Summary |
This case revolves around a dispute regarding the recovery of a loan amounting to Rs.3,89,501.00, secured by a mortgage deed executed by Ghulam Dastagir, who was claimed to have died before the mortgage was executed. The Lahore High Court upheld the lower court's decision, emphasizing the validity of the mortgage deed executed in 1991. The case highlights issues of loan recovery, the authenticity of financial documents, and the responsibilities of legal heirs in cases of default. The decision reinforces the position that forged documents cannot invalidate a legally executed mortgage, provided there is sufficient evidence of its execution. This case is crucial for understanding the enforcement of financial agreements and the responsibilities of parties involved in loan transactions. The ruling serves as a precedent in banking law, particularly concerning the recovery of loans and the legal implications of forged documents. Keywords: loan recovery, mortgage validity, forged documents, banking law, financial agreements. |
| Court |
Lahore High Court
|
| Entities Involved |
NATIONAL BANK OF PAKISTAN
|
| Judges |
MUHAMMAD SAYEED AKHTAR,
MIAN HAMID FAROOQ
|
| Lawyers |
Pervaiz I. Mir
|
| Petitioners |
MST. GHULAM KUBRA AND 7 OTHERS
|
| Respondents |
NATIONAL BANK OF PAKISTAN THROUGH MANAGER AND 2 OTHERS
|
| Citations |
2004 SLD 593 = 2004 CLD 745
|
| Other Citations |
Not available
|
| Laws Involved |
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997
|
| Sections |
15
|