UNITED BANK LIMITED versus CENTRAL COTTON MILLS LTD.
Section 15 of the Banking Companies (Loans, Progress, Credit and Recovery of Finance) Act, 1997 suits for the recovery of debt for the period ahead of the contract and for the period used in the litigation to the functional institution for the pillow period. The maximum amount should be provided for and the markup will be approved from the date of the institution suit under section 15 of the Banking Companies (Loans, Progress, Recovery of Credit and Finance) Act. The 1997 suit filed by the plaintiff bank was ordered with a markup of 20% from the date of payment of the institution suit.
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