| Case ID |
e0dc548f-4cdc-4378-a4da-9f7a96d221e3 |
| Body |
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| Case Number |
Civil Original Suit No. 121 of 1999 |
| Decision Date |
Feb 27, 2002 |
| Hearing Date |
Feb 21, 2002 |
| Decision |
The Lahore High Court ruled in favor of the plaintiff, National Bank of Pakistan, in a suit for the recovery of loans against EFFEF Industries Limited and its guarantors. The court found that the defendants had failed to adequately defend their case, as they did not comply with procedural requirements regarding the filing of leave to defend. The court dismissed their applications and confirmed the amounts owed by the defendants, which included principal amounts due under various financial facilities and applicable interest. The court emphasized the defendants' lack of sufficient cause for their non-appearance and inability to demonstrate compliance with legal obligations, leading to a decree for recovery against them. |
| Summary |
In the case of Civil Original Suit No. 121 of 1999, the Lahore High Court addressed a significant dispute between the National Bank of Pakistan and EFFEF Industries Limited regarding the recovery of loans. The court found that the defendants, including multiple guarantors, failed to appear and defend against the claims made by the bank. The ruling underscored the importance of adhering to procedural requirements under the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997, and the Civil Procedure Code. The High Court's decision highlights the legal principles governing loan recovery and the obligations of guarantors in financial transactions. The outcome emphasized that non-compliance with court procedures can result in adverse judgments against defendants, reinforcing the necessity for timely and proper legal representation in banking disputes. |
| Court |
Lahore High Court
|
| Entities Involved |
National Bank of Pakistan,
EFFEF Industries Limited
|
| Judges |
MIAN HAMID FAROOQ
|
| Lawyers |
Hamid Shabbir,
Ghulam Murtaza Bhatti,
Miss Aisha Malik,
Khalid Mahmood Ansari,
Pervaiz Ahmad Burki,
Nemo
|
| Petitioners |
NATIONAL BANK OF PAKISTAN through VicEPresident, Zonal Chief, Multan
|
| Respondents |
EFFEF INDSUTRIES LIMITED,
Defendants Nos. 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
|
| Citations |
2002 SLD 733,
2002 CLD 1431
|
| Other Citations |
Hudaiba Textile Mills Limited and others v. Allied Bank of Pakistan Limited and others PLD 1987 SC 512,
Khan Iftikhar Hussain Khan of Mamdot v. Messrs Ghulam Nabi Corporation Ltd., Lahore PLD 1971 SC 550,
Abubakar Saley Mayet v. Abbot Laboratories and another 1987 CLC 367,
Bankes Equity Ltd. through Attorney and 5 others v. Sunflo CIT-Russ Ltd. PLD 1999 Lah. 450,
Government of Pakistan v. Premier Sugar Mills and others PLD 1991 Lah. 381,
Messrs Standard Hotels (Pvt.) Ltd. v. Messrs Rio Centre and others 1994 CLC 2413
|
| Laws Involved |
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997,
Civil Procedure Code (V of 1908)
|
| Sections |
12.9(4),
10,
O.IX,Rr.6,
12
|