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TRACK KNITWEAR versus UNION LEASING LTD.


Banking Companies (Loans, Progress, Recovery of Credit and Financial Issues) Articles 5 and 21 of the Ordinance 1997 against the lease amount to the suit to be paid by the lender to the institutional suit adjustment plaintiff for recovery of the loan. Full sewing machinery and other office supplies were allowed to be leased. The plaintiff company paid in 36 installments. The plaintiff company paid 20 installments, but failed to pay the remaining installments, and the plaintiff filed a lawsuit to recover the balance, in which the plaintiff company claimed that it owed some money to the plaintiff. Should have been adjusted for the partial satisfaction of the defendant's claim in respect of payment paid by the competing company and after the amount owed to the defendant's company account, the balance was claimed. That was the right decision

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