Law:

Section:

Keywords: Federation, Procedure, Liability, Winding Up, Arbitration, Jurisdiction, Pension, Detention, Petition, Extension, Recovery, Consideration, Selling, Foreign Exchange, Bills Of Exchange, Contentions, Guarantee, Proceeds, Acceptance, Office, Extension Of Time, Conditions, Obligation, Director, Date Of Decree, Levy, Notice, Substitution, High Court, Change, Contractual Obligation, Commission, Mortgage, Properties, Cause Of Action, Terms Of The Contract, Enforcement, Outstanding Amount, Decree For Sale, Exchange, Division, Loan, Remittance, Suspension, Compensation, Copy, Creditor, Preliminary Decree, Execution, Trading, Equitable Mortgage, Payment, Deeds, Period, Expenses, Provisions, Call, Repayment, Breach Of Contract, Consent, Modification, Government, Proceedings, Liquidated, Foreign Currency, Arbitrator, Objections, Determination, Place, Damages, Leave, Relief, Costs, Services Terminated, Goods, Binding, Contract, Guarantor, Profits, Adequate, Terms And Conditions, Dower, Order, Appellate Tribunal, Discharge, Deposit Of Title Deeds, Liquidator, Notices, Suit For Recovery, Holders, Commencement, Conversion, Counter Affidavit, Prejudice, Certificate, Time Of Payment, Entitled To Compensation, Parties, Decree-Holder, Necessity, Divorce, Loan Agreement, Assessment Of Damages, Remuneration, Compulsory Winding Up, Mode, Failure, Privy Council, Language, Trustee, Evidence, Penal Interest, Description, Permission, Export, Receipt, Claim For Damages, Satisfaction, Floating Charge, Bank Guarantee, Consequences, Money Result: Suit decreed JUDGMENT The plaintiff, Pakistan Industrial Credit and Investment Corporation Limited has brought this suit for recovery of Rs. 3,896,374.50 against Mehboob Industries Limited and ten other persons named in the plaint under the following circumstances. The plaintiff at the request of defendants and one Akbar Ali, who was a Director of Mehboob Industries Ltd. (hereinafter called defendant 8) and who is now represented by his legal representatives defendants 8 (1) to 8 (Ix) granted to defendant I a loan in the foreign currency amounting to Deutsche Marks 6,47,200 on the terms and conditions contained to the Loan Agreement dated…

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