153/2022 Spl.H.C.A Fateh Textile Mills Pvt Ltd & Others (Appellant) V/S Allied Bank of Pakistan Ltd. (Respondent)

Sindh High CourtCompany Law2024

Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author), Hon'ble Mr. Justice Omar Sial

153/2022 Spl.H.C.A Fateh Textile Mills Pvt Ltd & Others (Appellant) V/S Allied Bank of Pakistan Ltd. (Respondent) Sindh High Court

Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author), Hon'ble Mr. Justice Omar Sial Order Date: 30-JAN-24

It seems that while the claim of the bank is being multiplied continuously with the passage of time, whereas, the value of the property as determined in the year 2016 was fixed to be set off against current exaggerated claim of Bank. This is no justification. No one should suffer on account of court???s error whether it is a borrower or the bank. If at all the claim is to be set off, it should be set off in terms of the present market value and not on the basis of value of 2016 against claim of bank, as exist now. Six years have been passed and the properties must have been multiplied manifolds, which was not accounted.

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