| Case ID |
14a0b346-bc7d-49c1-b253-85cde1ab23ef |
| Body |
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| Case Number |
First Appeal No.31 of 2006 |
| Decision Date |
Aug 09, 2006 |
| Hearing Date |
|
| Decision |
The appeal was allowed and the order of the Banking Court was set aside. The court found that the suit was filed within the limitation period due to the acknowledgment of liability made by the respondent's counsel. The acknowledgment dated 17-11-2001 extended the limitation period, making the suit filed on 28-10-2003 valid. The Banking Court's dismissal of the suit on the grounds of limitation was not sustainable, and the claim of the bank was decreed for the amount of Rs.84,730.90 with interest until realization. |
| Summary |
In the case of Muslim Commercial Bank Limited vs. Mohsin Baig, the Sindh High Court addressed the issue of limitation in the context of a banking recovery suit. The court scrutinized the acknowledgment of liability made by the respondent's counsel, which was crucial in determining whether the suit was filed within the appropriate time frame as prescribed by the Limitation Act, 1908. The acknowledgment dated 17-11-2001 was pivotal as it was made within the limitation period following an earlier acknowledgment. The court emphasized that proper documentation and timely acknowledgment are vital in financial recovery cases. The outcome favored the bank, leading to a decree of the claimed amount, highlighting the importance of legal representation and timely actions in financial disputes. This case serves as a significant reference for banking institutions regarding the implications of acknowledgment in recovery suits and the necessity of adhering to legal timelines to ensure justice. |
| Court |
Sindh High Court
|
| Entities Involved |
MUSLIM COMMERCIAL BANK LIMITED,
MOHSIN BAIG
|
| Judges |
MUSHIR ALAM,
MUNEEB AHMED KHAN
|
| Lawyers |
Muhammad Zubair Qureshi
|
| Petitioners |
MUSLIM COMMERCIAL BANK LIMITED
|
| Respondents |
MOHSIN BAIG
|
| Citations |
2006 SLD 2962,
2006 CLD 1540
|
| Other Citations |
Not available
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001,
Limitation Act, 1908
|
| Sections |
9,
10,
22,
19
|