NATIONAL DEVELOPMENT FINANCE CORPORATION versus MOONA LIZA FRUIT JUICES LIMITED
Banking Companies (Loans, Progress, Credit and Recovery of Financial Issues) Ordinance 1997 Section 9 Contract Act (IX of 1872), Additional Interest for the collection of Section 74 Suite Loans, Award for interest increase clause in default. Such a clause between the plaintiff / bank and the defendant / borrower was entered into a credit agreement, and could not be executed under section 74 of the Contract Act, 1872, The conditions mentioned in Section 74 above are not met; No oral evidence has been presented to justify the loss, nor has any of its affidavit been attached nor any permission to hold such document has been shown on the court file. That in the absence of any proof by the defendant / borrower what is reasonably compensated for the breach of liability? It was not possible to pay reasonable compensation, either by the plaintiff / bank. Whether or not there was a reasonable payment, according to the terms of section74 of the Contract Act, the 1872 token compensation was given to the plaintiff / bank and accordingly the judgment was decided Was given
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