FAYSAL BANK LIMITED vs DYNASEL LIMITED S — 2025 CLD 369 LAHORE-HIGH-COURT-LAHORE

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FAYSAL BANK LIMITED VS DYNASEL LIMITED S. 9---Suit for recovery of finance---Debtor and guarantor, joining of---Principle---Even if contract of guarantee by its terms makes guarantor not jointly liable and cause can be said to be separate, the creditor can bring an action by joining principal debtor and surety as defendants. Citation Name: 2025 CLD 369 LAHORE-HIGH-COURT-LAHOREBookmark this Case FAYSAL BANK LIMITED VS DYNASEL LIMITED S. 9---Suit for recovery of finance against surety---Maintainability---Pre-condition---Existence of a debt is a sine qua non for an action against surety even if it is separately and independently brought against it---Foundation or basis of claim even in suit against surety is liability of principal debtor. Citation Name: 2025 CLD 369 LAHORE-HIGH-COURT-LAHOREBookmark this Case FAYSAL BANK LIMITED VS DYNASEL LIMITED S. 9---Civil Procedure Code (V of 1908), O.II, R.2---Contract Act (IX of 1872), S. 128---Suit for recovery of finance---Liability of surety---Joint cause of action---Plaintiff/bank filed suit against principal borrowers and surety for failure to repay finance facilities---Validity---Plaintiff/bank by provisions of O. II, R. 2, C.P.C. was precluded from splitting claim which had its foundation in joint cause of action against all defendants---Provision of Explanation to O. II, R. 2, C.P.C. supported case of plaintiff/bank in treating cause of action against all defendants as unified and joint---Plaintiff/bank proved its case against defendants for recovery of amounts under finance facilities in question and mark-up under Running Finance facility in addition to preliminary decree that was passed earlier---High Court decreed the suit in favour of plaintiff/bank and against defendants, jointly and severally---Suit was decreed accordingly. Citation Name: 2025 CLD 369 LAHORE-HIGH-COURT-LAHOREBookmark this Case FAYSAL BANK LIMITED VS DYNASEL LIMITED S. 128---Word "coextensive"---Scope---Word "coextensive" in S. 128 of Contract Act, 1872 refers to the extent to which surety is liable towards creditor---Surety is not liable for more than what is due from principal debtor---Surety, under S. 128 Contract Act, 1872 may impose limits on restricting its liability by entering into a special contract. Citation Name: 2025 CLD 369 LAHORE-HIGH-COURT-LAHOREBookmark this Case FAYSAL BANK LIMITED VS DYNASEL LIMITED S.9---Suit for recovery of finance---Entries of statement of account---Proof---Parties prove facts stated in pleadings---Statement of account is simply the ledger maintained by bank reflecting outstanding amount of a finance facility but its entries are required to be proved by underlying documents by evidence led by the plaintiff. Citation Name: 2025 CLD 369 LAHORE-HIGH-COURT-LAHOREBookmark this Case FAYSAL BANK LIMITED VS DYNASEL LIMITED S. 45---Execution proceedings---Several co-defendants---Principle---Plaintiff who has obtained judgment against several co-defendants who are jointly and severally liable, can take execution proceedings against any one of the co-defendants, or any combination of them or all of them.

FAYSAL BANK LIMITED vs DYNASEL LIMITED S — 2025 CLD 369 LAHORE-HIGH-COURT-LAHORE

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