Law:

Section:

Banking Companies (Recovery of Loans) Ordinance (XIX of 1979)--- ----S.6---Civil Procedure Code (V of 1908), OXXXIV, R.2 & OXXXVII, R.3---Suit for recovery of loan amount---Application to appear and defend suit---Two of the four defendants did not apply for leave to defend and were thus liable for a decree against them forthwith---Remaining defendants did not appear to have any plausible defence; their applications for leave to defend were dismissed---Plaintiff's suit was decreed against all the defendants jointly and severally for a specified amount with interest till realisation of decretal amount---Preliminary decree for mortgage was passed against guarantor/defendant---In case decretal amount was not paid within six months, final mortgage decree would follow in respect of mortgaged property. JUDGMENT Defendants Nos.1 and 2 have not filed any application for leave to defend. Hence they are liable for a decree against them forthwith. On 22-5-1988 the following order was passed by my learned brother Mr. Justice Nasir Aslam Zahid:- "I have heard learned counsel for defendant No.3 and learned counsel mainly raised legal pleas as otherwise the taking of the loan by defendant No.1 firm from Dubai Bank and the rate of interest is not denied. It is also not denied by Mr. G.M. Oureshi that defendant No.3 is a partner of defendant No.1 firm, but the contention is that…

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