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Initializing Secure Chambers
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Initializing Secure Chambers
Petitioner: Messrs UNITED BANK LIMITED VS Respondent: Messrs MUHAMMADI TEXTILE MILLS LTD. and 5 others
Court Name: Sindh High Court Judge(s): Khilji Arif Hussain, Salman Ansari Title:Messrs UNITED BANK LIMITED vs Messrs MUHAMMADI TEXTILE MILLS LTD. and 5
others Case No.: Appeal No,75 of 1994 Date of Judgment:2007-10-31 Reported As: 2008 CLD 56 Result: Order accordingly Judgment ORDER Learned Advocate argued that though in the impugned judgment learned Chairman of the Banking Tribunal held that the plaintiff is entitled for mark-up for 210 days "cushion IA period" but such mark-up was not granted. ' From the perusal of the impugned judgment, it appears ' that the learned Banking Tribunal while passing judgment and decree on 10-4-1994, relied on the case Habib Bank Limited v. Farooq Compost Fertilizer Corporation 1993 M LD 1571 and held that:-- "Appellant/plaintiff has been allowed mark-up for 210 days cushion period which reasonably compensates the plaintiff for the delayed payment on the part of the defendants". We have gone through the impugned judgment and it appears that apparently due to some typographical error the mark-up of 210 days has not been granted and accordingly judgment and decree passed by the Banking Tribunal is modified only to the extent that in addition to amount decreed B the plaintiff is entitled for mark-up of 210 days along with mark-up from the date of judgment and decree. ' Appeal stands disposed of in the above terms.
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revisions by the competent authorities. Therefore, it is advisable to consult the official sources or legal professionals for the most up-to-date and accurate information.