Find a Lawyer

BANK OF OMAN LTD. versus CRESCENT INTERNATIONAL

Banking Companies (Recovery of Loans) Ordinance 1979 Section 8 (2) up to the extent of the plaintiffs' decision on the plaintiff's option to collect interest on the advance loan for the defendant was decided in favor of the plaintiff but denied interest on it. Evidence on the record shows that the defendant (the debtor) repeatedly approached the claimant (bank) to obtain copies of the relevant documents and statements of the accounts so as to know that the correct amount to pay against the loan. The defendant is reluctant to issue a copy of the contract which he has made periodically in the contract so that the statement of the accounts as well as the agreement with the defendant will be ( Defendant) is not aware of the impediment made by the plaintiff The evidence has proved that the defendant was ready to pay the debt till the due date and could not repay. This amount can be safely withdrawn due to non-support of bank account statements based on record evidence. Whenever the defendant approached the plaintiff bank to pay the debt in dispute, the bank would have pressured the firm to approve the entire amount against the loan given to both firms and the defendant firm to accept the loan amount given to the plaintiff. Refused, so was not entitled to claim interest after the specified date ie when the defendant was ready and willing to pay the loan. divorce advocates from Jalal Pur Jatan lawyer