SYED ZAHID, HUSSAIN, J.---A suit to recover a sum of Rs.1.56.790 was instituted by the appellant- Bank against the respondent. It was contested by the respondent-defendant whose stance was that the liability stood already cleared and liquidated in pursuance of the package scheme then prevailing. The learned Banking Court by taking into consideration the material on the record came to the conclusion that as against the initial loan of Rs.99,475 payment of Rs.1,05,000 had been made by the respondent-defendant, the suit was accordingly disposed of in view of the above. He, however, declined to award liquidated damages to the appellant-plaintiff. This is appeal by the plaintiff-Bank.
2. We have heard the learned counsel for the parties and considered the material on the record with their assistance. The view taken by the learned Chairman, Banking Tribunal, Faisalabad in his judgment dated 20-2-1995 is not shown to have been suffering from any misreading of the record or contrary to the law. In declining the liquidated damages, even the learned Tribunal exercised his discretion on sound principles. Law in that regard is almost now settled in the precedents, i.e. Habib Bank Ltd. v. Messrs Farooq Compost Fertilizer Corporation Ltd. and 4 others 1993 M LD 1571; Allied Bank of Pakistan Limited, Faisalabad v. Messrs Asisha Garments through Proprietor and 2 others 2001 M LD 1955; Saudi-Pak Industrial and Agricultural Investment Company (Pvt.) Limited, Islamabad v. Mohib Textile Mills Limited Lahore and 3 others 2002 CLD 1170 and National Development Finance Corporation v. Messrs Millrock Quarring (Pvt.) Ltd. and 7 others 2002 CLD 1382.
As a result of the above, we find no justification to interfere with the judgment of the learned Chairman, Banking Tribunal. The appeal is, accordingly, dismissed. No order as to costs.