MESSRS COMBINED OIL EXTRACTION (PVT.) LIMITED versus INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN
Section 39 markup decree for recovery of loan amount due to repayment rate on loan non-payment by the appellant arising from the bank's claim - the failure to pay the finance according to the agreed terms, the bank thus filed a lawsuit. Not to blame, when the company initially committed to default in fulfilling its payment obligations. Appellant did not apply for leave to appear before the defense and defense, the company did not challenge the statement of accounts showing various companies and debit entries, the bank reduced its claim from Rs 36, 91, 971 to 31, Rs. 24,000 17 High Court allowed appeal and amended order accordingly
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