' MUSHIR ALAM, J.--- Granted subject to all just exceptions.
2. Appellants have impugned judgment and decree dated 12-10-2009 whereby learned Banking Court-I, Karachi in Suit No,652 of 2007 had decreed the suit in the sum of Rs,130,60,694 together with cost of fund from the date of institution till realization. Prayer clauses III and V and cost of suit were granted and the suit was decreed jointly and severally against the defendants. Learned counsel for the respondent submits that there are certain discrepancies in the amount claimed and decreed by the Court. According to him, proper accounting calculation was not done by the respondent as per statement filed today which reads as follows:- "RUNNING FINANCE WITH REF TO FINANCE AGREEMENT DATED 5-9-2005 AT PAGE 55 OF COURT FILE.
1. Sales Price Rs.5,000,000.00
2. Purchase Rs.6,260,274.00
3. Amount availed in Excess (Ref Page 155,Rs.491,120.48
4. Total of 2+3 Rs.6, 751, 394.48
5. (-) Payment Rs.121, 075.00
6. Total Due Rs.6,63,319.48"
BRE EXPORT REFINANCE FACILITY WITH REFERENCE TO FINANCE AGREEMENT DATED 5-9-2005/PAGE 85 OF Court FILE.
7. Sale Price Rs.4,000,000.00
8. Purchase Price Rs. 4, 728,219.00
9. Repayment Nil 10 Total Due Rs.4,728,219.00 Grant Total Payable (6+10) of A& B.Rs.11, 358, 538.48.
Learned counsel for the appellants concedes to such statement filed today in Court and does not dispute the veracity of the same likewise learned counsel for the respondents concedes that the cost of fund could not have been granted by the learned trial Court from the date of the institution of the suit. According to him, in terms of subsection (2) of section 3 of the Financial Institution (Recovery of Finance) Ordinance,- 2001 the cost of fund could only be granted from the date of default till realization. Learned counsel for the appellants concedes to such legal position.
' In this view of the matter the decree is modified per total sum of Rs,11,358,538.48 together with costs of fund as specified by the statement from the date of default till realization. Under such modification the appeal stands disposed.