128/2011 I. A Jamil Paper Mart (Appellant) V/S Habib Bank Ltd (Respondent)
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui, Mr. Justice Mushir Alam
128/2011 I. A Jamil Paper Mart (Appellant) V/S Habib Bank Ltd (Respondent) Sindh High Court
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui, Mr. Justice Mushir Alam Order Date: 26-DEC-12
In this case the re-scheduling was made on 06.08.2008 which fact is admitted by learned counsel for the appellant in his leave to defend application and only defence that has been taken by learned counsel for the appellant was that the agreement of finance and promissory note are illegal and void. Appellant very categorically in his leave to defend application has admitted in the same breath that the respondent/bank purchased certain goods in the sum of Rs.3.5 Million from the appellant and resoled at the rate of 16% per annum. Such admission is categorical and in consonance with the finance agreement dated 06.08.2008