NATIONAL DEVELOPMENT FINANCE CORPORATION versus SPINNING MACHINERY COMPANY OF PAKISTAN LIMITED
The Banking Companies (Debt, Progress, Credit and Recovery of Financial Issues) Act 1997 Section 2 (a) and 9 National Development Finance Corporation Act (XVIII of 1973), sections 15 and 25, were a body corporate suit for bank loan restitution. According to the agreement and other documents the business of lending to various enterprises was taking over in Pakistan, implementation by the lending company established the nature of the business of the corporations and the relationship between the corporation and the company was raised. On this basis, it is claimed that the Corporation is a section of the National Development Finance Corporation Act, 1973. 25 and was not a banking company under the provisions of the Ordinance of Banking Companies, 1962, which, with the approval of the definition of banking company given in section 2, (a) (i) (ii) the banking companies (loans, advances, credits and Recovery of financial matters (AC t, 1997) The corporation's definition of a banking company was covered by the fact that the corporation was not a banking company as described in the Ordinance of Banking Companies, 1962, because it was irrelevant. Ordinance of the Banking Company, Banking Companies (Loans, Progress, Credit and Recovery of Financial Resources) Act 19 97 cannot be taken into account for determining whether or not the plaintiff was a banking company, was able to maintain the suit in the circumstances
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