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JS BANK LIMITED, KARACHI vs PROVINCE OF PUNJAB through Secretary Food, Lahore Statutory First Charge, principle of — 2021 SCMR 1617 SUPREME-COURT

Case information

Citation
2021 SCMR 1617 SUPREME-COURT
Court
Supreme Court of Pakistan
Year
2021
Reporter
SCMR
Parties
JS BANK LIMITED, KARACHI vs PROVINCE OF PUNJAB through Secretary Food, Lahore Statutory First Charge, principle of
Subject matter
Criminal

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

JS BANK LIMITED, KARACHI VS PROVINCE OF PUNJAB through Secretary Food, Lahore Statutory First Charge, principle of---Factors that could be considered by the court when considering the existence of a Statutory First Charge---When considering whether a statutory due carried with it a statutory first charge, the court could take into account the object and purpose of the legislation, the language of the provision conferring the statutory due, whether a statutory right was created through the operation of the act, and whether a priority was granted for the statutory due over other creditors---Each of said considerations served as indicative factors that the legislature intended to create a statutory first charge---However said factors were a non-exhaustive list of factors and each statutory due must be assessed subjectively.

Other judgments reported in 2021 SCMR

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