UNITED BANK LIMITED versus AZMAT TRADING CO. (PVT) LTD
Import Policy Order 1982 Section 9 bills on the basis of exchange of bankruptcy case, failure to present real bills, goods exported against letter of credit were issued without any bills of exchange and other shipping documents. , Bill exchange and other non-impact shipping documents could not be issued against letter of credit where the bill was not submitted, the High Court refused to accept the fact that the buyers were paying for the bills. The court dismissed the claim on the basis that no value was paid against the amount paid. The price was payable only on bills preparation tool to communicate. The High Court took serious notice of the negligence in this matter and recommended strict action against the officers and all the concerned High Court further recommended that if there was any damage to the bank, the concerned officials / persons should be fully satisfied. Be held liable for money that was due to financing / distribution or in the present case the suit was dismissed according to the order sanctioned
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