Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (LXVI of 2001)-------Ss.9 & 10---Suit for recovery of loan amount---Application for leave to defend suit---Plea of defendants was that mortgage documents regarding suit property were forged as their predecessor was not alive at the time of sanction of loan and execution of documents---Defendants in their separate applications averred three conflicting dates of death of their predecessor---Effect---Date of death of defendants' predecessor being a bona fide question going to the root of the case, could not be resolved without recording of evidence--Applications for leave to defend suit were accepted in circumstances---Principles. 2006 YLR 2477; 2002 YLR 2706; 2002 YLR 2655; 1990 CLC 1443; 1989 SCMR 704; 2003 CLC Lah. 1743; 2002 CLD Lah. 876; 20041 CLD 771 Lah.; 2005 CLD 444; PLD 1988 Kar. 316; 2001 CLC 1551; PLD 1999 Kar. 196; 2001 MLD 1351; 2001 YLR 1549; AIR 1971 Del. 316; PLD 1987 Kar. 518; AIR 1934 Mad. 67 and PLD 1985 SC 1416 ref. (b) Banker and customer--- ----Rescheduling of loan---Effect---Subsequent agreement in absence of mention or reference to previous agreement would not change previous agreement---Loan once rescheduled would carry interest---Mark-up could not be charged upon mark-up in case of recovery of loan under previous agreement---Principle. ORDER MRS. QAISER IQBAL, J.--- High Court Appeals Nos.7 of 2007, 8 of 2007, 18 of 2007 and 22 of 2007 have arisen out of the judgment and decree dated 4-10-2006, passed in Suit No.B-10 of 2000 whereby the appellants' application for leave to defend was dismissed and the suit was decreed against the appellants in the sum of Rs.33,105,524 jointly and severally together with a decree for sale of the mortgaged property of appellant No.1 in High Court Appeal No.8 of 2007. Since identical facts and grounds are involved in the above appeals arising out of a single order therefore, we propose to dispose off the above appeals jointly. Succinctly the facts leading to the case are that Messrs Zamco (Pvt.) Limited was sanctioned finance facilities 5 times by the respondent No.1 Industrial Development Bank of Pakistan (IDBP) for establishment and operation…

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