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UNITED BANK LTD. versus LQBAL INDUSTRIES


Banking Companies (Recovery of Loans) Ordinance 1979 Sections 6 and 8 Suits for Reconciliation Recognized the Loan and Promise Notice was issued as Security for Payment and as a Letter of Extra Security Consolidation. The defendants of the management and letter assumption failed to repay the loan and were neglected. Instead of discharging credit facilities and their debt obligations, it was deemed good for the defendants to summon part of the hypothecated goods / stock without settlement of the bank's consent, leaving any of the accused Appeal for defense and claim for defense was not made. The plaintiff who was on oath was not denied by the plaintiff's suit order

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