| Case ID |
2a8d9967-7c33-49e0-b22c-73dd6c8013c2 |
| Body |
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| Case Number |
Suit No. 732 of 1986 |
| Decision Date |
Feb 18, 1990 |
| Hearing Date |
|
| Decision |
The court found that two of the four defendants failed to apply for leave to defend, making them liable for a decree against them immediately. The remaining defendants did not present any plausible defense, leading to the dismissal of their applications for leave to defend. Consequently, the plaintiff's suit was decreed against all defendants jointly and severally for a sum of Rs.24,23,730.39 with 14% annual interest from September 21, 1989, until the realization of the decretal amount. A preliminary decree for mortgage was also issued against the guarantor/defendant, with a stipulation that if the decretal amount was not paid within six months, a final mortgage decree would follow concerning the mortgaged property. The defendants were ordered to bear the costs of the suit. |
| Summary |
In the case at hand, the Sindh High Court adjudicated a suit for the recovery of a loan amount under the Banking Companies (Recovery of Loans) Ordinance. The court highlighted the importance of timely applications for leave to defend, asserting that failure to do so results in immediate liability. The judgment emphasized the critical nature of presenting a plausible defense, as two of the defendants did not appear, leading to a default judgment. The court's decision also addressed the role of the guarantor in the loan agreement, affirming that the plaintiff bank's rights were protected through a mortgage decree. This case underscores the legal principles surrounding loan recovery and the implications of non-compliance with procedural requirements in civil litigation. Keywords: loan recovery, civil procedure, mortgage decree, banking law, legal representation. |
| Court |
Sindh High Court
|
| Entities Involved |
EMIRATES BANK INTERNATIONAL LTD,
Messrs FIBERS INC.
|
| Judges |
SYED ABDUR REHMAN, J
|
| Lawyers |
Liaquat Merchant,
Pervez Akhtar,
Nemo
|
| Petitioners |
EMIRATES BANK INTERNATIONAL LTD
|
| Respondents |
Defendant No. 4,
Messrs FIBERS INC.
|
| Citations |
1992 SLD 841,
1992 CLC 1272
|
| Other Citations |
Not available
|
| Laws Involved |
Banking Companies (Recovery of Loans) Ordinance (XIX of 1979),
Civil Procedure Code (V of 1908)
|
| Sections |
6,
OXXXIV, R.2,
OXXXVII, R.3
|