| Case ID |
2de87b4e-db6f-4bf8-9c39-0759eeb99139 |
| Body |
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| Case Number |
Writ Petition No. 1837 of 1998 |
| Decision Date |
Oct 12, 2001 |
| Hearing Date |
Oct 12, 2001 |
| Decision |
The Lahore High Court dismissed the writ petition filed against the Banking Tribunal's decree, affirming that the decree was not ex parte as the petitioners had previously engaged in the proceedings. The court noted that the petitioners had failed to file an appeal against the decree within the prescribed time, rendering their challenge through the constitutional petition ineffective due to principles of acquiescence and laches. The court also stated that the interlocutory order issued by the Banking Court was outside the purview of constitutional jurisdiction. |
| Summary |
This case involves a writ petition challenging the decree passed by the Banking Tribunal regarding the recovery of a loan by the National Bank of Pakistan from the petitioners, who had defaulted on their financial obligations. The petitioners argued that the decree was issued without proper service and that the Bank had failed to account for insurance proceeds that should have been applied to their loan. The court found that some defendants had abandoned the proceedings by not replying to show cause notices, and that the decree had attained finality. The court held that the petitioners' delay in filing the writ petition, three years after the decree, constituted laches, and thus the petition was dismissed. This case underscores the importance of timely legal action in the context of banking and financial disputes. |
| Court |
Lahore High Court
|
| Entities Involved |
Messrs NATIONAL BANK OF PAKISTAN,
Messrs SHARIF COTTON GINNING, PRESSING AND OIL FACTORY
|
| Judges |
MIAN HAMID FAROOQ
|
| Lawyers |
Amjad Hussain Syed,
|
| Petitioners |
,
Messrs SHARIF COTTON GINNING, PRESSING AND OIL FACTORY
|
| Respondents |
Messrs NATIONAL BANK OF PAKISTAN
|
| Citations |
2002 SLD 2124,
2002 CLD 403
|
| Other Citations |
Not available
|
| Laws Involved |
Banking Tribunals Ordinance (LVIII of 1984),
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997),
Constitution of Pakistan (1973)
|
| Sections |
6,
9,
18(6),
21(5),
199
|