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ABDUL BASIT versus BANK OF PUNJAB


Sections 9, 10 and 22 Recovery of Bank Loans Estoppel, Applying the Markup Against Defaults Applicable to Marks Against the Parties, Loni refused to avail the loan facility but he was satisfied that he had paid the amount. Submitted because matters have been settled with the bank. The banking court erroneously granted the markup above the settlement, the bank accepted the amount of the lender's payment under the settlement, and paid the markup and principal as per the terms set out in the settlement letter. After accepting and allocating the credit payment as per the terms and conditions of the markup and the principal, the bank was prevented from denying the existence of the agreement which was established and acted upon which the High Court had given to the Banking Court. The approved decision was affirmed and the case was pronounced except for markup. According to the time period

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