Law:

Section:

Banking Tribunals Ordinance (LVIII of 1984) Ss. 6, 9 & 11 Suit for recovery of Rs.21,56,166 alongwith liquidated damages, expenses and costs -Defendant offered to pay decretal amount in instalments, in case he was exempted from paying insurance and cushion charges, costs of suit and liquidated damages Bank did not agree to waive such charges and payment of decretal amount in instalments Banking Tribunal decreed the suit in the sum of Rs.16, 76, 806 including mark up up to date of suit in 12 quarterly instalments Contention of Bank was that without its consent, defendant could not be permitted to pay decretal amount in instalments; Bank was entitled to mark up from the date of suit till date of decision; and that Banking Tribunal had declined the insurance and cushion charges, liquidated damages and costs of suit on the assumption that matter was being disposed of with the consent of parties Validity Since no evidence had been recorded in the case it was not possible to finally determine the claim of Bank Appellate Court allowed the appeal, set aside the impugned and decree and remanded the case to Banking Court for its fresh decision in accordance with law. JUDGMENT SYED JAMSHED ALI, J. The appellant herein filed a suit for the recovery of Rs.21,56,166 alongwith the return liquidated damages, expenses and costs, Reply to show cause notice was submitted by the respondent. On 28 7 1994 the respondent made an offer that although the period of re payment of the loan was to expire in July, 1995 and the suit had been filed earlier yet he had no objection to the suit being decreed, however, he may be exempted from paying insurance and cushion charges, the costs of the suit, and liquidated damages and he be allowed to pay the outstanding amount in easy quarterly instalments in five years. On 31-7 1994 Mr. Manzoor Ahmed, Manager, A.D.B.P., appeared and stated that he had no cavil with the suit of the appellant being decreed. However, as far as the liquidated damages and other expenses and payment of decretal amount in instalments are concerned, he had no authority. A supplementary statement of the respondent, counsel was recorded on 24 8 1994 in which he agreed to…

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