NATIONAL BANK OF PAKISTAN versus AL-ASIF SUGAR MILLS LIMITED
Banking Companies (Loans, Progress, Recovery of Credit and Financial Affairs) Orders 9, 10 and 15 of the Ordinance 1997 called for a Demand Receipt for the Debt Recovery Plaintiff Bank could not return the Demand Finance until Not Defaulted on behalf of Defendant / Lender. In submitting the settlement amount between the parties, the plaintiff bank did not claim to be defaulted in payment of installments at any stage; the claim of the plaintiff bank was a pre-action under the law, the amount which was already fixed. Can be retained for recovery and the fact that the pendente lite was lost,
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