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VISION 2000 + PHARMACEUTICALS through Managing Partner, Peshawar vs HABIB BANK LIMITED Ss — 2022 CLD 80 PESHAWAR-HIGH-COURT

Case information

Citation
2022 CLD 80 PESHAWAR-HIGH-COURT
Court
Peshawar High Court
Year
2022
Reporter
CLD
Parties
VISION 2000 + PHARMACEUTICALS through Managing Partner, Peshawar vs HABIB BANK LIMITED Ss
Subject matter
Civil
Provisions referred to
S. 5

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

VISION 2000 + PHARMACEUTICALS through Managing Partner, Peshawar VS HABIB BANK LIMITED Ss. 5(8), 9 & 22---Suit for recovery of finances---Charging of markup---Mode, determination of---Appellants/defendants were aggrieved of judgment and decree passed against them by Banking Court---Plea raised by appellants / defendants was that charging of markup was not in accordance with Standard Banking Practice and Procedure as well as State Bank of Pakistan Regulations--- Validity--- Without appointment of competent and professional banker well conversant with banking practice and procedure and mode of charging of markup in accordance with terms and conditions of Sanction Advice/ Advices within the meaning of S. 5(8) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Controversy between parties could not be resolved merely on the basis of evidence so recorded before Banking Court---High Court set aside judgment and decree passed against appellants/defendants and remanded the matter to Banking Court for decision afresh after recording of evidence---Appeal allowed accordingly. Head NotesCase Description

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