MCB BANK LIMITED versus ATLAS RUBBER AND PLASTIC INDUSTRIES PVT. LTD.
Sections 9 and 16 of the Civil Procedure Code (v. 1908), O. XXXVIII, R5 suit for the recovery of debt, the attachment of the collateral property, the application to the claimant who was to guarantee the debtor as well as the others. The lawsuit was filed as a guarantor of facilities. The lenders were made available to the plaintiff bank through a petition filed under section 16 of the Financial Institutions (Finance Recovery) Ordinance 2001, which sought property belonging to the guarantor attached to the guarantee, on the basis of this person only in this case The bailout was legalized. The guarantee that he gave to the plaintiff's bank in connection with the financing facility provided to the debtor just because a person gave a personal guarantee in connection with the outstanding loan, does not mean that She is reluctant to deal with her property. According to the law, the assets, and as such they will be deemed appropriate simply because a lawsuit was filed against a guarantor, enable the lender to come forward, and, in fact, guarantee To prevent your property from being dealt with, the lender must show something specific and additional, as required in the terms of O XXXVIII, CPC R5. That the relevant guarantor was dealing with the guarantee. Or was about to dispose of my property with the intention of defeating or delaying any order, in which case my bald claim was not sufficient, the merits of the property filed by the plaintiff bank, without merit, were dismissed. Was, in the circumstances
Related judgments — Karachi High Court Sindh, 2011
