Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) -S.9 Claim for recovery of liquidated damages by Bank ¬Validity Plaintiff Bank was not entitled to recover such amount Such claim of Bank being not entertainable was rejected in circumstances. ORDER C.M. NO.362 B OF 2003 Instant application has been filed by the defendant Company with the prayer that as all the amounts, legally due and payable by the defendant company, have since been paid to the plaintiff Bank, therefore, the suit has become infructuous, thus, the same be disposed of. The application has been opposed by the learned counsel for the plaintiff. 2. After hearing the learned counsel for the parties, I am inclined to decide the main suit, which is fixed for today, therefore, the application stands disposed of. P.L.As. Nos.100 B of 2000, 104 B of 2002 and Civil Miscellaneous No.712 B of 2002 3. As the parties have amicably settled the matter in view of the decision of the Verification Committee, constituted under section 10(5) of the Corporate and Industrial Restructuring Corporation Ordinance, 2000, therefore, all these applications have become infructuous. Disposed of accordingly. Main suit 4. Learned counsel for the plaintiff submits that although pursuant to the decision of the aforementioned Verification Committee, entire determined liability has been…

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