| Case ID |
42287b0c-b557-4f62-b8fb-60bf6bfbe84d |
| Body |
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| Case Number |
Civil Petition for Leave to Appeal No. 1018-L of 1 |
| Decision Date |
Jan 08, 1994 |
| Hearing Date |
|
| Decision |
The Supreme Court dismissed the petition filed by the petitioners against the High Court's order, which required them to deposit the decretal amount in cash before their appeal could be heard. The court found that the High Court acted within its discretion as per the Banking Companies (Recovery of Loans) Ordinance, 1979, and that the petitioners' argument regarding the provision for furnishing security instead of cash deposit was without merit. The petitioners had offered properties as security, but one was under litigation and the value of the other was insufficient to cover the decretal amount. Therefore, the High Court's order did not suffer from any legal infirmity. |
| Summary |
This case revolves around the appeal of M/s. Gulzar Enterprises against a decision by the High Court which mandated a cash deposit of the decretal amount before the hearing of their appeal could commence. The underlying issue stems from the Banking Companies (Recovery of Loans) Ordinance, 1979, particularly Section 12, which outlines the requirements for appeals in recovery matters. The petitioners argued that the High Court misused its discretion by not allowing them to provide security instead of a cash deposit. However, the Supreme Court upheld the High Court's decision, citing that the petitioners' offered properties were not adequate or were encumbered by litigation, thus affirming the necessity of the cash deposit. This case highlights the importance of following legal procedures in banking recovery cases and reinforces the discretionary power of the courts in such matters. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
ALLIED BANK OF PAKISTAN LIMITED,
GULZAR ENTERPRISES
|
| Judges |
SAAD SAOOD JAN,
SAJJAD ALI SHAH
|
| Lawyers |
Not available
|
| Petitioners |
M/s. GULZAR ENTERPRISES through its Managing Partner and 3 others
|
| Respondents |
ALLIED BANK OF PAKISTAN LIMITED
|
| Citations |
1994 SLD 894,
1994 SCMR 1747
|
| Other Citations |
Not available
|
| Laws Involved |
Banking Companies (Recovery of Loans) Ordinance, 1979
|
| Sections |
12
|