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Petitioner: AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN VS Respondent: NADIR alias NADIR ALI JUDGMENT
Court Name: Lahore High Court Judge(s): Sayed Zahid Hussain, Abdul Shakoor Paracha Title:AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN vs NADIR alias NADIR ALI
JUDGMENT
Reported As: 2005 CLD 1588 Result: Appeal dismissed. Judgment JUDGMENT SYED ZAHID HUSSAIN, J.--- A suit for the recovery of IA Rs.1,79,200 and for liquidated damages at the rate of 20% instituted by the appellant-Bank was disposed of by the learned Chairman Banking Tribunal, Faisalabad on 30-3-1995 in view of the adjustment having already been made under the Prime Minister Package Scheme. 2. The learned counsel for the appellant contends that claim for the liquidated damages, has illegally been declined by the Banking Tribunal. 3. We have considered the record and are of the view that as against a sum of Rs.1,10,000, which had been availed by the respondents as loan, a sum of Rs.1,17,625 had been deposited by them. Taking the view that the Prime Minister's Package was attracted and covered the situation, the rest of the claims made by the appellant-Bank were declined by the learned Banking Tribunal. We find no illegality having been committed by him in this regard. So far as the claim for liquidated damages is concerned the rule is well-settled by now through the precedents such as; Habib Bank Ltd. v. Messrs Farooq Compost Fertilizer Corporation Ltd. and 4 others 1993 M LD 1571; Allied Bank of Pakistan Limited Faisalabad v. Messrs Asisha Garments through Proprietor and 2 others 2001 M LD 1955; Saudi-Pak Industrial and Agricultural Investment Company (Pvt.) Limited, Islamabad v. Mohib Textile Mills Limited Lahore and 3 others 2002 CLD 1170 and National Development Finance Corporation v. Messrs Millrock Quaffing (Pvt.) Ltd. and 7 others 2002 CLD 1382. In view of the above, we do not find that any illegality was committed by the learned Banking Tribunal in the case. The appeal, therefore, is bereft of any merit. It is dismissed. No order as to costs.