MCB BANK LIMITED vs MAZCO INDUSTRIES PRIVATE LIMITED Ss — 2023 CLD 410 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2023 CLD 410 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2023
Reporter: CLD
Parties: MCB BANK LIMITED vs MAZCO INDUSTRIES PRIVATE LIMITED 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

MCB BANK LIMITED VS MAZCO INDUSTRIES PRIVATE LIMITED Ss. 2(b) & 19(7)---Execution of decree---Pecuniary jurisdiction---Determination---Respondent/Bank filed suit for recovery of Rs. 109.460 million and after passing of consent decree, amount claimed by decree-holder bank was reduced to Rs. 64.900 million---Applicant/judgment debtor sought transfer of Execution Proceedings to Banking Court on the plea of lack of pecuniary jurisdiction of High Court---Validity---Applicant/judgment debtor on one hand accepted concession of easy installments along with conditional waiving off the claims regarding amounts of costs of funds, charges, markups etc. while not objecting to original decree despite the same being less than Rs. 100 million and not even at subsequent stage of modified agreement while taking further concessions---Applicant/judgment debtor on the other hand took a totally different plea of lack of pecuniary jurisdiction at much belated stage---Such transfer application seemed to be an attempt to avoid scheduled and agreed upon payments/installments---If stance of applicant/judgment debtor was to be accepted as correct then as a necessary consequence initial consent decree was also liable to be set aside on the sole ground of being coram non judice and in that case applicant/judgment debtor was bound to pay Rs. 109.460 million claim of respondent/Bank---High Court declined to transfer execution proceedings to Banking Court on the ground of pecuniary jurisdiction---Application was dismissed, in circumstances.

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