| Citation(s) |
|---|
| 2025 SLG 809 2025 SLD 809 = 2025 PLD 263 |
C.O.S. No. 28 of 2014, decided on 13th May, 2024.
Before Shams Mehmood Mirza, J
Ashar Elahi and Syed Majid Ali Bukhari for Plaintiff. Haq Nawaz Chattha for Defendants Nos.1 to 8. Zaki ur Rehman for Defendant No.9. Date of hearing: 18th March, 2024.
FAYSAL BANK LIMITED---Plaintiff
VERSUS
Messrs DYNASEL LIMITED and others---Defendants
Law: Financial Institutions (Recovery of Finances) Ordinance, 2001
Section: 9
Law: Contract, Act, 1872
Section: 128
Law: Civil Procedure Code (V of 1908)
Section: 45
(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---
----S.9---Suit for recovery of finance---Entries of statement of account---Proof--Parties prove facts stated in pleadings---Statement of account is simply the ledger maintained by bank reflecting outstanding amount of a finance facility but its entries are required to be proved by underlying documents by evidence led by the plaintiff.
(b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---
----S. 9---Suit for recovery of finance against surety---Maintainability---Precondition---Existence of a debt is a sine qua non for an action against surety even if it is separately and independently brought against it---Foundation or basis of claim even in suit against surety is liability of principal debtor.
(c) Civil Procedure Code (V of 1908)---
----S. 45---Execution proceedings---Several co-defendants---Principle---Plaintiff who has obtained judgment against several co-defendants who are jointly and severally liable, can take execution proceedings against any one of the codefendants, or any combination of them or all of them.