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MESSRS MUNAAF IFTIKHAR & COMPANY versus JUDGE BANKING COURT NO.3 LAHORE

Section 7 Financial Institutions (Restoration of Financing) Ordinance (XLVI of 2001), Sections 7 and 10 (8) are filed for bankruptcy petition in favor of the appellants in their application during the trial in the Banking Court. The decision to resolve the dispute under the privileged scheme of Circulars No 19 and 20 of the State Bank of Pakistan was not made despite the fact that the banking court was under obligation to do so, and apart from that the appellants had a Special property was imposed. During the Bank of the suit but the proceeds from the sale were not taken into the account of the appellants Property records show that the banking court settled the matter in a happy manner under Circular No. 19 and 20 of the State Bank of Pakistan. And even the appellants agreed to pay a certain amount under the State Bank of Pakistan privilege scheme, but after that they failed to pay the calculation under the concession scheme appellant. Therefore, these circulars can no longer be allowed to take advantage of the bank because they withdrew from their earlier commitments by not making any payment to the bank as the calculation under the appellant's concession scheme excluded merit bank. Was found. , Was instructed to deposit the amount of money sold by the appellants to the appellants' account, in order to deduct the said amount. best law firms from Fort Abbas lawyer