SALMAN CAPITAL INVESTMENTS (PVT.) LIMITED vs HABIB BANK LIMITED S — 2026 CLD 292 KARACHI-HIGH-COURT-SINDH

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SALMAN CAPITAL INVESTMENTS (PVT.) LIMITED VS HABIB BANK LIMITED S. 9---Suit for recovery of damages filed by the customer---Sale of pledged securities by Bank---Non-diligence/prudence alleged against Bank---Damages, claim for---Evidence, absence of---Assumption---Banking Court dismissed the suit for recovery of damages filed by customer / company (appellant ) for want of cause of action---Appellant availed a finance facility and ,in order to secure the financing, had pledged shares /securities, which were, after receiving permission from customer in wake of notice, sold by the Bank ; against said act (sale) the Appellant filed suit for recovery of damages of Rs.29.5 million---Plea of appellant (plaintiff / customer) was that the bank did not act diligently in disposing of the pledged shares ; that the bank was required to dispose of the shares immediately in the wake of loss in the marginal requirements without even giving a notice to the appellant ; as in such eventuality, the appellant would have been saved from the loss of Rs.29.5 million---Held: The entire case of the appellant was based on a hypothesis---Neither any detail nor any supporting documentary evidence had been furnished along with the plaint showing that the value of the pledged shares on the day of disposal was less than the value of the shares when the appellant was given a notice to make up for the loss in the margin---So essentially, said plea/statement (that the shares were sold on less price, due to depletion of value, than the actual price prevalent on the day of notice) was based merely on assumptions and presumptions, without there being any sold evidence to support it---So, irrespective of merit of the claim whether the bank acted prudently or not, it was clear that the claim was founded on weak footings---Thus, the criteria had not been qualified by the appellant and there was no chance that in absence thereof it would succeed---High/Appellate Court upheld the impugned judgment passed by the Banking Court---Appeal, filed by the customer, was dismissed.

SALMAN CAPITAL INVESTMENTS (PVT.) LIMITED vs HABIB BANK LIMITED S — 2026 CLD 292 KARACHI-HIGH-COURT-SINDH

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