Law:

Section:

Banking Tribunals Ordinance (LVIII of 1984) ¬ Ss. 6(2) & 11(4) Contract Act (IX of 1872), S.74 Liquidated damages, recovery of Suit for recovery of Bank loan included liquidated damages Banking Tribunal decreed the suit in favour of the Bank but declined to include liquidated damages in the decree Validity Claim of liquidated damages was not entertainable High Court declined to interfere with the and decree passed by the Banking Tribunal in view of Allied Bank of Pakistan v. Aisha Garments reported as 2001 MLD 1955. Allied Bank of Pakistan Ltd., Faisalabad v. Aisha Garments 2001 MLD 1955 ref. JUDGMENT MIAN HAMID FAROOQ, J. National Bank of Pakistan, through the filing of the instant appeal, under section 9 of Banking Tribunals Ordinance, 1984 (since repealed), has called in question judgment and decree, dated 23 1 1994, whereby the then Banking Tribunal although decreed a suit for recovery, in favour of the appellant, yet declined to award liquidated damages to the appellant Bank. 2. Brief facts leading to the filing of the present appeal are that on account of alleged failure by the respondents to liquidate the Bank's dues, the appellant filed a suit for recovery of Rs.15,81,793.32 alongwith mark up and liquidated damages at the rate of 20% per annum, against the respondents, before the Banking Tribunal. Pursuant to the issuance of show cause notice, the respondents filed reply to the said show cause notice, however, the then Banking Tribunal passed a decree for recovery against respondents Nos. l and 3 but declined to award the liquidated damages at the rate of 20% amounting to Rs.2,63,632.22 vide judgment and decree, dated 23 1 1994, which…

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