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MEHR ZULFIQAR ALI BABER versus BANK OF PUNJAB


Sections 7 and 11 guarantee a certain amount of money given by the respondent bank to the appellant bank for any financing, from the failure of the bank's appellant to disclose a call from a third party to the financing amount. Bank records showing the call were financed by a third party, making them liable for payment of funds only under the bank guarantee and no more and the matter was referred to the banking court. The remand was granted and the appellants were relieved to defend against the excess amount collected by the bank.

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