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NIB BANK LTD. versus SHADMAN ELECTRONIC INDUSTRY (PVT.) LTD.


The application for leave was filed during the trial of the section 10 bank loan recovery. The defendant did not refuse the loan but relied solely on the suit filed against the bank. The defendant / borrower was not meant to and does not constitute a valid, good or substantial basis for the holiday. Defendant has to stand on his feet to defend it and have to file a case for leave to defend him; no definitive question about the law and the facts was raised by the defendants alone. ? The claim was denied by the claimant, it was not enough to claim leave, even taking the stand that the case against the bank was pending.

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