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Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss. 15 & 21 Decree for recovery of loan with mark up and taw charges B had issued an Incentive Scheme, dated 12 10 1998 providing that if defaulting borrower paid 10096 of principal amount then due within 60 days, then mark¬up would be waived by Bank Judgment debtor had paid Rs.5,000 on 12 11 1998 under bona fide impression that such payment coupled with earlier payment of Rs.1,27.618 had resulted in payment of entire principal amount ¬Contention of Bank was that a sum of Rs.81,688 as decreed together with law charges in excess of Rs.40, 000 was due and payable by debtor Judgment debtor had deposited Rs.42.963 pursuant to an order passed in present appeal High Court while taking into account the bona fides of debtor ordered that subject to payment of Rs.30.000 as legal charges of Bank within 60 days he would stand absolved of all liability under impugned and decree and in case of his failure to do so, he would be liable to pay the entire decretal debt Appeal was disposed of accordingly. JUDGMENT JAWWAD S. KHAWAJA, J. This appeal impugns the judgment and decree, dated 7 9 1999 passed by the learned Banking Court, Faisalabad. against the appellant on a suit filed by the respondent Bank. Learned counsel for the appellant/ defendant states that the appellant obtained a loan of Rs.1,32,608. This amount was payable in instalments of Rs.3,200 per month. According to the appellant, he paid a sum of Rs.1,27,618 from time to time. This payment is not disputed by the respondent Bank. It is, however, contended that the appellant was not regular in payment of instalments and, as such, the respondentBank was entitled to accrue mark up and other charges as reflected in the statement of account. 2. Learned counsel contends that the respondent Bank issued an incentive scheme, dated 12 10 1998 which, inter alia, stipulated that if defaulting borrowers pay 100% of the principal amount then due within a period of 60 days the mark up shall be waived by the respondent Bank. Learned counsel for the appellant states that a sum of…

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