| Case ID |
1ee040cf-3676-4949-90fc-5d91ce43cd10 |
| Body |
View case body. Login to View |
| Case Number |
Civil Petitions Nos. 816-L and 817-L of 2009 |
| Decision Date |
Jun 05, 2015 |
| Hearing Date |
|
| Decision |
The Supreme Court of Pakistan ruled on the execution of a decree regarding the payment of a principal amount and interest. The Court reaffirmed that the executing Court must strictly adhere to the terms of the decree under execution, specifically regarding the calculation of interest on the principal amount. The Court emphasized that interest is to be awarded till the realization of the decretal amount, but the decree does not automatically allow for interest on accrued interest. The petitioner sought clarity on whether interest should be calculated on the principal amount or on the aggregate of principal and accrued interest. The decision clarified that the interest must be calculated at a simple rate unless explicitly stated otherwise in the decree. |
| Summary |
In the case of Najm Koreshi vs. Chase Manhattan Bank, the Supreme Court of Pakistan addressed the complexities surrounding the execution of a decree for recovery of a specified amount. The focus was on the application of interest as per the Code of Civil Procedure. The petitioner, Najm Koreshi, was seeking to enforce a decree that mandated the recovery of £152,542.97 along with periodically prevalent interest. The court explored the provisions of sections 34 and 34(2) of the Civil Procedure Code, emphasizing that the executing Court must implement the decree in accordance with its terms. The Court ruled that the decree did not grant interest on the aggregate of the principal and accrued interest, and that such terms must be clearly spelled out in the decree itself. This case underscores the importance of specificity in legal decrees and the implications of delayed payments by judgment debtors, reiterating the principles of appropriation of payments and the jurisdiction of the executing Court. The case serves as a critical reference for future cases involving similar disputes over decree execution and interest calculations. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
|
| Judges |
ANWAR ZAHEER,
JAMALI,
DOST MUHAMMAD KHAN,
UMAR ATA BANDIAL
|
| Lawyers |
Rai Ahmed Nawaz Kharal,
Munawar-us-Salam
|
| Petitioners |
NAJM KORESHI
|
| Respondents |
CHASE MANHATTAN BANK NOW MUSLIM COMMERCIAL LIMITED, Lahore and others
|
| Citations |
2015 SLD 2121,
2015 SCMR 1461,
2016 PLJ 1
|
| Other Citations |
Not available
|
| Laws Involved |
Code of Civil Procedure of 1882
|
| Sections |
34,
34(2),
114,
O.XLVIII,
O.XXI R. 23
|