MESSRS YUSSRA TEXTILE CORPORATION versus PICIC COMMERCIAL BANK LIMITED
The defendant's failure to receive such a request was submitted by the sixth defendant in order to defend his claim of markup illegality, and he was solely responsible for charging the markup ply by the defendants. Had raised the issue that the markup was. In violation of the recognized rules for charging markup by the State Bank of Pakistan Banking Court and in violation of the circular issued by the State Bank of Pakistan, was charged / debited in favor of the Bank of India. , Dismissing the request, including the controversial amount of markup Accuracy defendants made a special plea regarding the illegal payment of markup, but the decision passed by the banking court did not provide any inquiry into the matter, The banking court was legally obliged to issue some conclusions on the question of charging markup in a way Submit Since there were instructions / guidelines from the State Bank of Pakistan regarding markup banking compensation for failing to pay the markup banking court, the defendants defended the case. A case was filed for sanction of leave in which the High Court defended the case on the limited question of charging or debiting markups on a limited application for leave. The judgment and order passed by the Banking Court were set aside, permission to apply for leave to defend the case was granted and accordingly the case was remanded to the Banking Court.
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