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Initializing Secure Chambers
Your Digital Lawyer, Always on Duty
Initializing Secure Chambers
Petitioner: NAYYAR INDUSTRIES (PVT) LIMITED through Chief Executive VS Respondent: through Chairman and another PUNJAR COOPERATIVE BOARD FOR LIQUIDATION
Court Name: Lahore High Court Judge(s): Malik Muhammad Qayyum Title:NAYYAR INDUSTRIES (PVT) LIMITED through Chief Executive vs through
Chairman and another PUNJAR COOPERATIVE BOARD FOR LIQUIDATION Case No.: Cooperative Petition No,193/C of 1999 Date of Judgment:2000-01-22 Reported As: 2000 CLC 708 Result: Petition accepted Judgment ' According to the facts stated in this petition Punjab Cooperative Board for Liquidation had invited offers for sale of immovable property measuring 167 Kanals and 18 Marlas situate at Shahkot, District Sheikhupura. In response thereto the petitioner gave an offer of Rs,1,40,000 and deposited a sum of Rs,5 lacs as earnest money in the form of a pay order. That offer was, however, not accepted nor has the money deposited by the applicant been returned to him. 2. In the written reply filed by the respondent none of the pleas has been denied. On the other hand it has been admitted that the petitioner has deposited Rs,5 lacs as earnest money. It has been stated in para.7 of the reply that the petitioner has not fulfilled his offer, therefore, he is not entitled to any relief, However, details of default, committed by the petitioner, have not been furnished. There is nothing on the record to show that the offer made by the petitioner had even been accepted and the acceptance communicated to the petitioner. In these circumstances, it is quite obvious that the respondents have no right to retain the earnest money. ' It is accordingly directed that the earnest money shall be refunded to the petitioner forthwith. The claim for interest/mark-up is, however, denied. #EndJudgment
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