ITTEFAQ FOUNDRIES (PVT.) LTD. versus FEDERATION OF PAKISTAN THROUGH SECRETARY, MINISTRY OF LAW, FEDERAL SECRETARIAT, ISLAMABAD
Section 5 (R) and 18 Contract Act (IX of 1872), Ordinance of Section 62 Companies (XLVII of 1984), Section 284 (2) Constitution of Pakistan, Article 199 Constitution Petition Referring to the complete default applicants of the contract Applicants from the financial institutions and the National Accountability Bureau who benefited from the support filed a voluntary default reference to the allegation that the agreement between the parties had been violated and no money was owed against them. There was no future agreement based on mutual agreement of the parties. The original contract between the applicants and the lending banks and other entities was settled once the original contract was settled, then rights and obligations were replaced by rights and obligations under the Novatid Agreement. In fact, the termination of the contract actually created a new contractual obligation and change. The original contract, therefore, whether there was a simple export intention or will, was extinguished by an agreement between the parties that came to the High Court's judicial consideration in the civil suit, since the parties already had The competent court was already subject to adjournment between the parties before the law. Due to the action of the National Accountability Bureau or the National Accountability Bureau with the financial institution to prosecute the applicants under the National Accountability Ordinance, P 1999 PP applicants compensated all loan banks with markup And the authorities had no objection to the dispute in which reference was allowed
Related judgments — Lahore High Court Lahore, 2015
