NATIONAL BANK OF PAKISTAN LIMITED vs SAUDI PAK INDUSTRIAL AND AGRICULTURAL INVESTMENT COMPANY (PVT — 2025 CLD 270 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2025 CLD 270 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2025
Reporter: CLD
Parties: NATIONAL BANK OF PAKISTAN LIMITED vs SAUDI PAK INDUSTRIAL AND AGRICULTURAL INVESTMENT COMPANY (PVT
Subject matter: Criminal
Provisions referred to: S. 124---S; Contract Act (IX of 1872)

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

NATIONAL BANK OF PAKISTAN LIMITED VS SAUDI PAK INDUSTRIAL AND AGRICULTURAL INVESTMENT COMPANY (PVT.) LIMITED Ss. 9 & 22---Contract Act (IX of 1872), S. 124---Suit for recovery of bank guarantee---Liability of surety---Appellant / bank issued bank guarantee to secure finance facility extended by respondent / finance company to borrower company---Suit filed against appellant / bank was decreed by Trial Court in favour of respondent / finance company---Validity---If principal debtor defaults or fails to repay his debt, the guarantor is equally liable to fulfill the obligation---Partial performance and acceptance of contractual duties necessitates full performance---Appellant / bank failed to discharge its contractual obligations---Right of respondent / finance company to seek enforcement of remaining guarantees through legal proceedings was justified---High Court declined to interfere in judgment and decree passed by Trial Court as there was no legal infirmity or jurisdictional defect---Appeal was dismissed, in circumstances.

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