ARK GARMENTS INDUSTRY (PVT.) LTD. versus NATIONAL BANK OF PAKISTAN
Section 12 (2) Financial Institutions (Financial Recovery) Ordinance (XLVI of 2001), suit for recovery of finance in favor of section 9 bank, passing the claimant's request under section 12 (2), CPC On request, the bank said that it had obtained a decree, hiding the agreement reached between the parties, which had been implemented. Validate Bank did not deny the implementation of the agreement, which was still intact and the public notice issued for the sale of a mortgaged property bank in support of the bank was withdrawn and its The beneficiary was aware of its implementation and knowledge at the time of filing such suit, the bank filed the case without disclosing such agreement and was not brought to the notice of the court. Prior to the approval of the unlawful decree, but continued to pressurize as such agreement did not exist / such actions of the bank are equivalent to concealing material facts / documents, misrepresentation and fraud by the defendant and the High Court through the bank. Such a request was accepted, with the disputed decree set aside, while the defendant was instructed to file a leave application within a fixed time.
Related judgments — Karachi High Court Sindh, 2013
