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MESSRS VICTOR ELECTRONICS APPLIANCES INDUSTRIES (PVT.) LIMITED versus HABIB BANK LIMITED

Section 9 Financial Institutions (Finance Recovery) Ordinance (XLVI of 2001), Section 9 Suite Compensation and Losses For plaintiff, a company applied to the bank to open Letter of Credit. Bank charges were paid by the plaintiffs, including sweet charges. The plaintiffs were told by the bank that the letters of credit had been opened and copies of the relevant documents had been provided to the plaintiffs. The plaintiffs provided the required information of the loan letters to the overseas suppliers, but the suppliers informed the plaintiff that they had not received the letter of credit. The plaintiff filed the facts in the letter of credit to the bank. Brought in mentioning. The bank was further told that the plaintiffs would be severely hurt and their business would be affected. The available evidence on record shows that despite the payment of all the charges, the letters of credit were not opened by the bank, but rather fake letters. The cash was given to the plaintiffs by the plaintiffs could not fulfill their promise to the foreign suppliers as they provided information from the bank to the foreign suppliers that the loan letters were opened and the goods were shipped such as the bank. Has not opened the letters in terms of the bank's actions of the bank to the plaintiffs Because of this, their reputation, business and goodwill were harmed and thus their loss e The plaintiff is entitled to compensation and damages, however, due to the bank's actions to disclose the specific financial loss of the business. Couldn't produce any evidence, but it caused damage to reputation and goodwill, so according to the claim, they were awarded damages. criminal advocate from Chakwal lawyer