Citation Name: 2023 CLD 222 PESHAWAR-HIGH-COURTBookmark this Case MUHAMMAD NIQAB vs NATIONAL BANK OF PAKISTAN Ss — 2023 CLD 222 PESHAWAR-HIGH-COURT

Case information

Citation: 2023 CLD 222 PESHAWAR-HIGH-COURT
Court: Peshawar High Court
Year: 2023
Reporter: CLD
Parties: Citation Name: 2023 CLD 222 PESHAWAR-HIGH-COURTBookmark this Case MUHAMMAD NIQAB vs NATIONAL BANK OF PAKISTAN Ss
Subject matter: Civil

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

Citation Name: 2023 CLD 222 PESHAWAR-HIGH-COURTBookmark this Case MUHAMMAD NIQAB VS NATIONAL BANK OF PAKISTAN Ss. 3, 9 & 22---Suit for recovery of Bank loan---Cost of funds---Mark up beyond agreement period---Suit filed by respondent/Bank was decreed against appellant/defendant along with markup---Validity---Customer who defaulted in installment of obligations was liable to pay cost of funds for the period from date of default till its realization as certified by State Bank of Pakistan, besides other liabilities accrued under any contract agreement---Agreement executed by appellant/ defendant in favour of respondent/Bank did not exonerate him from payment of markup in the event of his default---Basic aim and theme behind such provision of law was to compensate financial institutions for finance blocked on account of breach of fulfillment of obligation by a customer---Banking Court duly attended the controversy involved in the matter and while disallowing application of appellant/defendant for grant of leave to defend, had rightly decreed suit of respondent/Bank through judgment and decree in question---High Court declined to interfere in the judgment and decree passed by Banking Court as the same did not suffer from any illegality, misreading or non-reading of record---Appeal was dismissed in circumstances.

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