SHADMAN ELECTRONICS INDUSTRY PVT. LIMITED versus NIB BANK LIMITED
Section 3 and 9 suits for recovering bank loans, damages, grants of principal suits filed by the bank in favor of the bank and against the defendants jointly and severally amounting to Rs. 100,798,440 As well as the costs of the funds and the costs of the suit, the compensation was not approved by a single High Court judge not aware of the fact that the defendants were required to recover the sums filed by the bank. In the amount shown, liquid loss at the fixed rate of 20% liquid damages in the absence of any loss shall be incurred to either party. Proof of the actual amount of losses, especially when the cost of funds under Section 3 (Financial Recovery) Ordinance 2001 of the Financial Institutions, was already approved with the price of the suit, it could not be allowed on the flat rate. ? The Division Bench of the High Court amended and upheld the decisions and decree. Accordingly disposed of
Related judgments — Karachi High Court Sindh, 2013
