| Case ID |
e0b0cf06-b0e1-4d11-8dba-c083b9148883 |
| Body |
View case body. Login to View |
| Case Number |
Spl. H.C.A. No. 57 of 2018 |
| Decision Date |
Oct 28, 2019 |
| Hearing Date |
Sep 23, 2019 |
| Decision |
The Sindh High Court dismissed the appeal filed by the appellants against the judgment and decree of the Banking Court. The court held that the appellants had failed to establish a novation of the contract, as there was no acceptance of the subsequent offer made by the appellants. The court emphasized that the period of limitation for filing the appeal started from the date of the judgment, not from the decree, thereby ruling that the appeal was time-barred. The judgment also clarified that the original finance agreement remained in force, and the suit filed by the respondent bank was valid as the cause of action had accrued. |
| Summary |
This case revolves around a banking dispute involving the First Pakistan Security Limited and Bank Alfalah Limited. The primary legal issue was whether a novation of the contract occurred following a subsequent financing agreement. The appellants contended that a new agreement replaced the initial financing terms, while the respondents maintained that the original contract remained valid due to the lack of acceptance of the new terms. The court examined the principles of contract law, specifically focusing on the requirements for novation and the implications of non-acceptance. Additionally, the appeal's timeliness was scrutinized, with the court determining that the appeal was filed beyond the permissible period. This case highlights the critical importance of understanding contract modifications and the procedural aspects of appeals in financial disputes. |
| Court |
Sindh High Court
|
| Entities Involved |
FIRST PAKISTAN SECURITY LIMITED,
BANK ALFALAH LIMITED
|
| Judges |
IRFAN SAADAT KHAN,
FAHIM AHMED SIDDIQUI
|
| Lawyers |
Danish Ghazi,
Shahzad Haider
|
| Petitioners |
,
FIRST PAKISTAN SECURITY LIMITED
|
| Respondents |
BANK ALFALAH LIMITED
|
| Citations |
2020 SLD 462,
2020 CLD 269
|
| Other Citations |
National Bank of Pakistan v. Al-Asif Sugar Mills Ltd. 2001 MLD 1317,
Banque Indosuez v. Banking Tribunal for Sindh and Baluchistan 1994 CLC 2272,
Lahore Cantonment Cooperative Housing Society Ltd. v. Dr. Nusratullah Chaudhri PLD 2002 SC 1068,
Apollo Textile Mills Ltd. and another v. Soneri Bank Ltd. PLD 2012 SC 268,
Imtiaz Ali v. Atta Muhammad and another PLD 2008 SC 462
|
| Laws Involved |
Contract Act, 1872,
Civil Procedure Code (V of 1908),
Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)
|
| Sections |
62,
96,
22
|