Law:

Section:

Suit for recovery was decreed against the appellants Plea of the appellants in appeal was that there was no mark up agreement with the Bank thus mark up charged by the Bank was illegal and that the appellants deposited a certain amount to discharge their liability towards the Bank, but that amount was not reflected in. the statements of account of the Bank Bank failed to identify the adjustment of the said amount in the statement of account but relied upon a letter issued through the Bank's official showing that adjustment had been duly made Said letter did not amount to a statement of account Judgment and decree of the Banking Court was upheld to the extent of amount arrived at after deducting the amount claimed by the appellants to be adjusted but subject to the deposit of the former amount within the prescribed period with the Bank failing which the appeal would be deemed to have been dismissed Disallowing the leave to the appellant to appear and defend the suit for determination of two issues, the case was remanded for decision according to law. JUDGMENT MIAN SAQIB NISAR, J. Respondent filed a suit for recovery of Rs.1,08,57,657.89 with mark up against the appellant before the Banking Court Lahore on 8 12 2000. Appellant filed a leave application, which has been disallowed by the learned Court with the result that the suit had been decreed. 2. Learned counsel for the appellant at the very outset admits that an amount of Rs.62,24,605 is due from the appellant on account of finance involved in tine matter however, it is stated that there was no mark up agreement between the parties, resultantly, the mark up charged by the respondent/ defendant is illegal and unlawful. It is also stated that through various tenders, the appellant had deposited the total sum of Rs.44,14,280 towards the discharge of his liability qua the above finance, but this amount has not been reflected in the account statement of the respondent, resultantly on the above two issues, the appellant was entitled to the leave. 3. When confronted, learned counsel for the petitioner by relying upon letter dated 5 4 1998…

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