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MESSRS DADABHOY CEMENT INDUSTRIES LTD. versus NATIONAL DEVELOPMENT FINANCE CORPORATION

Code of Civil Procedure 1908 Section 12 (2) and XXIII, R3 Contract Act (IX of 1872), Section 19 Corporate and Industrial Reorganization Corporation Ordinance (L of 2000), Section 2 (L) 10, 20 and the Scheduled Constitution of Read with Pakistan (1973), Article 185 (3) suits filed by the applicant for the return of the mortgaged property and the suit filed by the respondent to recover the loan amount executed between the parties. The settlement was settled under a Memorandum of Understanding, under which the applicant agreed to pay the loan amount. The quarterly installments are subject to the condition that in the event of default in any installment, the entire original amount and interest accrued thereafter will not be paid, payable immediately by the applicant and the respondent. The applicant will be entitled to file an application for recovery, after paying four. 4) The installments stopped further payments and filed petitions under section 12 (2) CPC which were rejected by the trial court appellate court. Applicant's Appeals Applicant's argument was that a memorandum of understanding was obtained through false statements, coercion and fraud. It was against the law to resolve such petitions without inquiry, even though the trial court terminated the penalty interest, but the defendant was still charging the same. And that the respondents may refer to the Governor State Bank of Pakistan a question of wide controversy centered on the liability of the Governor State Bank of Pakistan for certification and correct determination / calculation, which is validated by the Committee. The relevant applicant proved the allegations of fraud, misrepresentation and repression famous high court advocate from Kotla lawyer