| Case ID |
dec74fae-bb18-4c55-b28d-6e00a9cdd04f |
| Body |
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| Case Number |
Regular First Appeal No.466 of 1999 |
| Decision Date |
Jan 23, 2003 |
| Hearing Date |
Jan 23, 2003 |
| Decision |
The Lahore High Court upheld the decision of the Modaraba Tribunal, dismissing the appeal filed by the appellants. The court found that the Modaraba's suit was filed within the applicable limitation period under Article 120 of the Limitation Act. The court also ruled that the arguments presented by the appellants regarding the applicability of Articles 64-A and 59 were without merit, as the suit was not filed under Order XXXVII of the Civil Procedure Code. The court emphasized that the Modaraba had a valid claim based on the contractual agreements and acknowledged the principal debtor's liability. The appeal was dismissed with costs. |
| Summary |
This case revolves around the legal proceedings initiated by Trust Modaraba against Mian Aftab Ahmed Shaikh and others for recovery of a significant amount under Modaraba finance agreements. The Lahore High Court examined various provisions of the Modaraba Companies and Modarabas Ordinance, the Limitation Act, and the Civil Procedure Code to determine the validity of the suit and the applicability of limitation periods. The court concluded that the suit was filed within the permissible timeframe and dismissed the appeal, affirming the Tribunal's jurisdiction. This case highlights important legal principles regarding Modaraba financing and the procedural aspects of civil litigation, making it a significant reference for future cases involving similar financial arrangements. |
| Court |
Lahore High Court
|
| Entities Involved |
Trust Modaraba,
Modaraba Tribunal
|
| Judges |
MIAN SAQIB NISAR,
JAWWAD S. KHAWAJA
|
| Lawyers |
Syed Iftikhar Hussain Shah,
Muhammad Ahmed Qayyum,
Naseer Ahmed Sheikh
|
| Petitioners |
MIAN AFTAB AHMED SHAIKH
|
| Respondents |
MESSRS TRUST MODARABA
|
| Citations |
2004 SLD 512,
2004 CLD 150
|
| Other Citations |
Not available
|
| Laws Involved |
Modaraba Companies and Modarabas (Floatation and Control) Ordinance (XXXI of 1980),
Limitation Act (IX of 1908),
Civil Procedure Code (V of 1908)
|
| Sections |
26(2),
64-A,
59,
5,
120,
XXXVII,
128(2)(f)
|