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SAYID PAPER MILLS (PRIVATE) LIMITED THROUGH CHIEF EXECUTIVE versus TRUST INVESTMENT BANK LIMITED THROUGH CHIEF EXECUTIVE

Section 9 Contract Act (IX of 1872), Section 8 Banking Court The suit for recovery of the balance amount under the defendant's decree which is presented to the plaintiff bank for obtaining financing from another bank when its claims Accept payment of Rs 40 million upon completion of. The plaintiff accepted such an offer and sent a letter dated 17 I02 2002 to the other bank confirming that the security documents were subject to a payment of Rs 40 million. The plaintiff filed a pending payment order, released the security documents and issued the NOC for the plaintiff's leave. Subsequently, a lawsuit was filed on the basis that the plaintiff, through a letter dated 19 10 2002, notified the defendant about the expression of the letter to the other bank that the defendant had within 12 months The outstanding balance of Rs. 320 million has been paid, nothing on the confirmation was available to show that the defendant has accepted the claim of the plaintiff through the letter dated 19 10 2002. The letter cannot carry that much weight, at the very least, a proposal can be considered without its approval, acceptance of any proposal submitted with the proposal, accepting the conditional offer. Acceptance of claim, enclosing the pay order and issuing unconditional documents were dismissed as pending claims and in this case the right to apologize was denied. famous high court advocate from Washuk lawyer