NATIONAL DEVELOPMENT FINANCE CORPORATION versus DR. QUDRATULLAH CHAUDHRY
The Banking Tribunals Ordinance 1984, section 6 and 9 of the Contract Act (IX of 1872), the Division 133, settled the judgment of the bankruptcy court against the principal debtor for recovering the loan amount, but additional plaintiffs' contracts were executed. But this claim was rejected. Financial matters, as such, were not responsible for payment of any amounts due to such additional agreements. The plaintiff's argument was that the banking tribunal was in error because the record shows that the defendant was acting on personal guarantees for obtaining complementary agreements; the guarantees guaranteed by the defendants were numerous. Most of the records available to the Banking Tribunal were ignored, but no failure was justified, the Banking Tribunal did not grant a pass against the defendants, for which the claimants. Against the High Court, the prayer was approved
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