Law: Agricultural Development Bank of Pakistan Ordinance (XXXI of 1961)

Section: 27

Agricultural Development Bank of Pakistan Ordinance (XXXI of 1961)--Ss. 27 & 4---Constitution of Pakistan (1973), Art.199-Agricultural Development- Bank of Pakistan Circular No.RD/9/2000 dated 17-10-2000 Clause ii---Circular/letter RD/8/2000 dated 4-12-2000---Constitutional petition--Loan---Relief Package---Offer and acceptance---Petitioners had obtained loan of Rs.2, 51, 000 for purchase of Tractor and Trolly ---Petitioners had paid Rs. 2,57,200---Bank circulated relief package through Circular No. RD/9/2000 dated 17-10-2000---Agricultural Development Bank held the case of petitioner to fall within the relief package, received an amount Rs.27,104 and closed the account of petitioner---Bank alleged that the case' of petitioner was out of relief package due to Circular Letter No. RD/8/2000 dated 4-12-2000 and an amount of Rs.2,49,590 was payable by the petitioner ---Validity--¬Relief/incentive package was advertised by Bank through Circular letter dated 17-10-2000---Such offer was accepted by the loanees---Payment of the amount in compliance of that offer had created a valuable vested, right in the loanee-¬-Bank could not be permitted to turn turtle and adopt a new version or demand or make any other claim contrary to that relief package---Circular letter dated 4-12-2000 could not be permitted to apply to those loanees who had acted upon Circular of 17-10-2000---Bank was directed not to claim any more amount and to close the case of the petitioner. ORDER Through this writ petition Syed Manzoor Hussain, the petitioner, who had obtained a loan facility of Rs.2,51,000 under A/C No.103434 in the year 1992-93 has, challenged the claim/demand being made by respondent-Bank, on the basis of a letter/Circular No.RD/8/2000 dated 4-12-2000 as he had fulfilled all the conditions of relief package, as publicized through Circular. No. RD/9/2000 dated 17-10-2000. 2. The learned counsel appearing on behalf of the petitioner states that the petitioner, who had obtained the above mentioned loan from respondent No.1 had already repaid an amount of Rs.2,57,200 against the loan amount and was defaulter of two instalments uptil 17-10-2000. In the meantime a Circular No.RD/9/2000…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492