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2004 P.C.T.L.R. 400

I. D.B.P. vs M/S. Prometals Ltd. And Others

Citation2004 P.C.T.L.R. 400
CourtLahore High Court
Case No.COS No. 59 of 2002,
Date2004-02-11
Judge(s)Muhammad Muzammal Khan
ResultSuit Decreed

ORDER QRDER MUZAMMIL KHAN, J.-- It is a joint petition by the plaintiff and defendants Nos. 1, 4 to 8 under Order XXIII, Rule 3, CPC seeking decree in the suit, on the basis of compromise between them, reduced to writing through Deed of Compromise dated 5.1.2004.

2. Suit to the extent of defendants Nos. 2, 3, 9 and 10 with costs of the suit and cost of funds as provided under Section 3(2) of the Ordinance, 2001, vide judgment dated 20.2.2003 passed by this Court.

3. Compromise Deed Mark-A (3-pages) gives repayment schedule of the outstanding amount against the by the defendants. This schedule was settled under the guide lines of the committee of the State Bank of Pakistan constituted under Circular No. BPD-29, dated 15.10.2002 whereunder the plaintiff has allowed a settlement package of Rs.24,311 millions, as full and final settlement of the liability, to the defendants with the compromise detailed in Mark-A.

4. In view of compromise between the parties, above-referred, instant suit is decreed according to settlement detailed in Mark-A which shall be deemed to be a part of this judgment, with all the conditions contained therein. Suit is accordingly decreed. revisions by the competent authorities. Therefore, it is advisable to consult the official sources or legal professionals for the most up-to-date and accurate information.

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