| Case ID |
3ccb56be-aa1c-4373-88e4-4d595147f8d8 |
| Body |
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| Case Number |
Regular First Appeal Case No. 367 of 2006 |
| Decision Date |
May 26, 2011 |
| Hearing Date |
May 26, 2011 |
| Decision |
The appeal was dismissed, affirming the decree of the lower court which had ruled in favor of the National Bank of Pakistan. The court found that the appellants had failed to provide sufficient evidence to support their claims of forgery and fraud regarding the loan documents. The court also noted that the appellants were aware of their financial obligations and had not taken steps to verify the status of their loan until after legal proceedings had commenced. The court emphasized the importance of upholding contractual obligations and the integrity of financial institutions. |
| Summary |
In the case of Regular First Appeal Case No. 367 of 2006, the Lahore High Court addressed a dispute regarding a bank loan recovery involving several parties, including the National Bank of Pakistan and guarantors who disputed their liability. The court examined the claims of forgery and fraud raised by the appellants, who argued that they were not present in Pakistan during the execution of loan documents. However, the court found that the appellants had not provided credible evidence to substantiate their claims. The ruling underscored the necessity for parties to be diligent in their financial affairs and the repercussions of failing to fulfill loan obligations. The court reaffirmed the legal standing of financial institutions in enforcing loan agreements, thereby protecting the integrity of the banking system. This case highlights the critical nature of contractual compliance and the legal processes involved in financial recoveries. |
| Court |
Lahore High Court
|
| Entities Involved |
Habib Bank Limited,
NATIONAL BANK OF PAKISTAN,
Corporate and Industrial Restructuring Corporation (C.I.R.C),
Messrs Nishat Impex (Pvt.) Limited
|
| Judges |
IJAZ AHMAD CHAUDHRY, C.J.,
MAZHAR IQBAL SIDHU, J
|
| Lawyers |
Najam ul Hassan Ali,
Waqar ul Mohsin Luck,
Mansoor Usman Awan,
Ijaz Ahmad
|
| Petitioners |
another,
Sheikh MUHAMMAD AZIM
|
| Respondents |
3 others,
NATIONAL BANK OF PAKISTAN
|
| Citations |
2011 SLD 1963,
2011 CLD 1361
|
| Other Citations |
Mst. Akhtar Begum v. Muslim Commercial Bank Limited 2009 SCMR 264,
Mst. Riffat Jehan and another v. Habib Bank Limited and 10 others 2005 CLD 941
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001),
Qanun-e-Shahadat (10 of 1984),
Civil Procedure Code (V of 1908)
|
| Sections |
Ss. 9 & 10,
Art. 59,
O. XIII, R.4
|