1222/1999 Suit National Bank of Pakistan and another (Plaintiff) V/S Northern Polyethyleneand others (Defendant)
Sindh High Court
Bench: Hon'ble Mr. Justice Nazar Akbar
Order Date: 05-DEC-13
Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 10, 14 & 19---Civil Procedure Code (V of 1908), S.151 & O.XXIII, Rr. 1 & 2--- Suit for recovery---Withdrawal and adjustment of suits---Enforcement of Memorandum of Understanding (MOU) between plaintiff and defendant; signed after the dismissal of defendant's application for leave to defend---Effect---Suit for recovery was decreed after dismissal of defendant's application for leave to defend on 25-8-2004---Defendant through present application under S.151, C.P.C. read with O.XXIII, Rr.1 & 2; and S.14 of the Financial Institutions (Recovery of Finances) Ordinance 2001 sought enforcement/settlement of the suit through MOU dated 13-8-2007 between the plaintiff and the defendant---Validity---Defendant had no right of audience in the suit with effect from 25-8-2004 when leave to defend application was dismissed---Legal position was that the proceedings had been finally concluded in terms of S.10(11) of the Financial Institutions (Recovery of Finances) Ordinance, 2001---Suit would now proceed in terms S.19 of the Ordinance and the Court would treat proceedings as execution proceedings in accordance with S.19 of the Ordinance---Defendant could file whatever objections it wished once said proceedings for execution were started---Application was dismissed, in circumstances.Full judgment text for this case is not yet available on Pakistan Law Reports. Check the official Sindh High Court case law portal for the complete order.
This judgment is reproduced from a publicly available source for informational purposes and does not constitute legal advice. If you believe this listing contains an error,
let us know.