MIAN SAQIB NISAR, J.---The appellant-Bank, brought a suit for recovery of an amount of Rs.60,942,067,15 against the respondents on 22-1-1999, which has been decreed by the learned Banking Court only to the extent of Rs.51.541 Million. However, the mark-up of certain period and the costs of fund, have not been allowed to the appellant. It is this part of the judgment and decree, disallowing the mark- up and costs of fund, which have been challenged by the appellants through the present appeal.
2. When confronted, learned counsel for the appellant concedes, that awarding of costs of fund has been provided in section 3 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, whereas the present suit, pertains to the period prior thereto, which was filed under section 9 of the.
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997, under which, there is no provision for the award of the costs of fund. Thus, the provision of costs of fund in the Ordinance, 2001, would not have retrospective effect to the suits, which were instituted before the repealed law. Resultantly, to the extent of costs. of fund, this appeal has no force.
3. As regards the refusal to the grant of mark-up is concerned, the learned Banking Court has come to the conclusion:-- "Plaintiff has charged mark-up beyond the date of expiry of the agreement of financing. The plaintiff is not entitled to charge mark-up, like interest, beyond the period agreed upon by the parties in their financing agreement or arrangement. The mark-up so charged is disallowed."
Learned counsel for the appellant has failed to show, if the mark-up was chargeable under any agreement or arrangement between the parties. It is settled law that if, there is no agreement for the charge of the mark-up , the bank is not entitled to claim the same. Thus, the learned Banking Court has rightly refused the claim of mark-up to the appellant. No illegality in the impugned judgment in this behalf, is shown. Resultantly, this appeal has no merits, and is hereby dismissed.