Law:

Section:

Banking Companies (Recovery of Loans Ordinance (XIX of 1979) S.12 Constitution of Pakistan (1973), Art.l99 ¬Constitutional petition Appeal filed by defendants against decree in favour of Bank was disposed of in terms of compromise reached between the parties, whereby defendants paid decretal amount and Bank waived the other charges Banking Court on defendants' application directed the Bank to deliver them pledged goods or pay equivalent amount Validity Pledged goods having already been entrusted to defendants, matter stood concluded and fructified Direction of Banking Court to return pledged goods had been passed in complete oblivion of record of the case and order of Appellate Court High Court accepted Constitutional petition and declared impugned orders as illegal, without lawful authority and of no legal effect. JUDGMENT Through the institution of the present Constitutional petition, the petitioner Bank has called in question orders dated 30 7 1997 and 8 10 1997 with the prayer that the same may be set aside. 2. Brief facts leading to the filing of this petition are that a forced LIM facility was allowed to respondents Nos.2 and 3 and on their failure to re pay the said amount, a suit for recovery of Rs.1,16,400 was filed by the petitioner--- Bank against the respondents Nos.2 and 3 before the Special Judge Banking, Lahore, which was decreed in favour of the petitioner Bank vide judgment and decree dated 15 2 1982. Feeling aggrieved, the respondents Nos.2 and 3 filed an appeal (R.F.A. No.25 of 1982) before this Court. The writ petition then narrates that during the pendency of the said appeal, respondent No.2, addressed a letter dated 1 6 1997, to the petitioner Bank intimating that the raw material had expired and also undertook to pay the entire decretal amount of Rs.1,16,000 in lump sum, provided other charges are waived. The petitioner accepted the request, agreed to effect compromise, and thus write off a sum of Rs.1,39,483 outstanding against respondent No.2, which was accepted by the said respondent vide letter dated 19 1 1989. In view of the compromise, aforenoted appeal was disposed of by this Court on 5 2 1989. It has been stated in the petition…

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