MESSRS NAWAZ ENTERPRISES THROUGH SOLE PROPRIETOR versus HABIB BANK LIMITED
Articles 9 and 22 were filed against the lenders and the borrower to recover the loan. The appellants accepted the loan approval and the execution agreement was also entered into. ? It was denied that the appellant acknowledged that the questionnaire was availed of and that the payments to the machinery suppliers were actually made to the appellants. The appellants stated that the finance contract had been stolen under the finance contract. That, after the delivery of the machinery, all risk of loss or damage to the appellant will be accounted for by the appellant, allegedly theft of the machinery after delivery was not only for the appellants but for the same. The financial question deal reduced the liability of the appeals by the bank in relation to the financial matters, all would be insurance but the aforesaid agreement deemed the termination of the liability of the appellant due to any loss of machinery. Was not insured whether insured or not, and also that the insurance company is neither a borrower nor a consumer as defined by law.
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