M.N. IFFI OIL MILLS versus NATIONAL BANK OF PAKISTAN
Banking Companies (Recovery of Loans) Ordinance 1979 Sections 6, 8 and 12 of the State Bank of Pakistan Circular No. 19, Dated 5 6 1997 The State Bank's Court for the Receipt of Bank Loans dismissed the Defendant's request for leave for defense. And the appeal was filed for the regular hearing following the required security arrangements directed by the High Court defendants, after the matter was settled with the bank under the Incentive Scheme, setting aside the disputed decision / order. The petition was filed, the High Court took the previous action against the bank as it did not have any copies. The statements made on the record copies were dues paid by the defendants knew that. The contents of the application also supported a similar affidavit that included affidavits, pledges and other relevant documents, affirming that the defendants had terminated their liabilities through invalid judgment / decree. Taking advantage of the privileged scheme introduced by the State Bank of Pakistan, according to Circular No. 19, the decision / decree was satisfied after the date 6-6 1997, which explained the absence of the bank as well as that of his lawyer. The appeal allowed that his conviction be dismissed on the basis of satisfaction of the improper judgment / order, therefore, no actionable order was issued on the ground.
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