FIRST DAWOOD INVESTMENT BANK LIMITED versus HOUSE BUILDING FINANCE CORPORATION LIMITED
Section 2 (a), 2 (c), 7 and 10 suits for restitution Customs, Scope Finance and Investment Definition, Banking Court Discrimination Application for leave defense was dismissed and the case dismissed. It was held that the money provided by the plaintiff House Building Finance Corporation in its favor was not financed because the plaintiff House Building Finance Corporation was not able to lend money as per its mandate and said that in fact The investment was from the claimant. There was no relationship between customer and financial institution between the defendant's business and the parties, so this case was not sustained, issuing a letter to the plaintiff accepting the terms of the loan and distribution by the defendant, approving the financing. Equally, the payment covered under the Financial Institutions (Recovery of Finance) Ordinance, 2001 was merely an investment and not a financial support, relied on by the defendants, who could not exclude the same defendant in their documents. , Which itself disclosed borrowing money from a financial institution and, therefore, present In this case the transaction was between. The term investing in a joint venture between a consumer and a financial institution means investing in a business carried on by someone to acquire property or assets for profit or production, or at a profit or loss. Whereas in the present case there was no such expenditure for the acquisition of any asset / property by the claimant. Therefore, such payment cannot be declared as investment because the bankruptcy court's order affecting interference.
Related judgments — Karachi High Court Sindh, 2014
