BEGUM ZIA FARHAT versus GOVERNMENT OF PAKISTAN
The Hydrogenate Vegetable Oil Industry Control and Development Act 1973 Section 6 Bank (Nationwide) Act (XIX of 1974), Section 5 Constitution of Pakistan (1973), Article 146 Contract Act (IX 1872), Sections 56, 133 and 134 Applicants The lenders were nationalized by the government and the applicants to facilitate the company's over-draft as security for payment of loan requests to the company bank, after which, the bank released their guarantees. Demanded but the bank refused to accept their demand where there was property which was taken over by the government for payment of loan, Will remove the obligation to pay the debts accumulated by the securities and such securities shall not be liable for the payment of outstanding debts against the company bank. Therefore, the applicant was responsible for returning the securities
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