Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)-------S.18---Decree for recovery of loan amount, execution of---Two loans under two distinct accounts against separate deeds sanctioned in -debtor's .Warne---Amount of sanctioned loan under each account was less than Rs.1,00,000---Settlement/Incentive Scheme issued during pendency of execution prescribing three different categories with regard to investment slabs---Issuance of two notices to -debtor about two accounts for availing incentive under scheme---Judgment-debtor cleared both accounts under category "A" of scheme---Refusal of Bank to return charge documents to -debtor treating his case under category "B" making him liable to pay Rs.51,000 more on the ground that he was given total loan amount beyond Rs.1,00,001 against both accounts---Validity---Words used in incentive scheme were "loan amount" being relatable to each account and not to each individual---Judgment-debtor's case was covered by category "A" and he was not liable to pay anything more to Bank---High Court directed Bank to return charge documents to -debtor relieving him of liabilities of both loan accounts. ORDER Instant appeal assailed the order-dated 1-2-2006 passed by the learned Judge Banking Court, Sargodha, whereby application of the appellant/judgment-debtor for treating his case under Category "A" and for issuance of No Objection Certificate/Return of charge documents, was dismissed. 2. Succinctly, relevant facts are that .the appellant was allowed House Building Loan by the respondent for a sum of Rs.85,000 on the basis of registered deed of assignment/ partnership executed by the appellant on 3-9-1985. Thereafter, the appellant took another loan of Rs.65,000, on the basis of another deed of assignment/partnership executed on 30-11-1986. Appellant defaulted in re-payment of finance facility availed, which necessitated filing of suit by the respondent for recovery of an amount of Rs.2,56,797 in the Court of the learned District Judge, Sargodha. Appellant did not appear in the suit and the learned Additional District Judge after recording of ex parte evidence, decreed the suit of the respondent on…

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