MUHAMMAD ISMAIL versus PUNJAB COOPERATIVES BOARD FOR LIQUIDATION THROUGH CHAIRMAN
Section 11 Applicant reserves account with defaulted corporation against the outstanding over draft facility of Rs 6,19,139 deposited on 11 11 1991 and Rs 5 lakh on 6 lakh 1991 on adjustment of SMR. A credit award of Rs 29,29,700 was sanctioned against the applicant for the validity of the Judicial Officer of the Punjab Cooperative Board, with adjustment of Rs. On the same day, he gave him an over draft of Rs 7. , Without obtaining such loan through documents, only 17,000 records showed adjustment in cash only without giving details of the payment and in defense of this, SMR Petition has made adjustment of branch manager's SMR of Rs 5 lakh. There was no cash receipt or documentary evidence presented in support. The deposit entries for such adjustments were conveyed to the corporation to only three account ledgers, but other documents were not specifically provided for the D-O book and cash book containing cash receipts and settlement, if such adjustment was genuine. If so, then it was necessary to register in the Branch Manager's Daybook and Cashbook Conduct, which was in league with the applicant, the applicant did not or did not deposit any money. Upon the closing of such loan to the corporation on 6 11 1991, no transaction, applicant could not submit a cash deposit receipt of Rs. 39, 39,000. Such adjustment in favor of the applicant is extreme. Was suspicious and seems to have been compromised. Such a great dance to the defunct corporation and its lenders
Related judgments — Lahore High Court Lahore, 2010
