C.M. NO,362-B OF 2003 ' Instant application has been filed by the defendant-Company with the prayer that as all the amounts, legally due and payable by the defendant-company, have since been paid to the plaintiff-Bank, therefore, the suit has become infructuous, thus, the same be disposed of. The application has been opposed by the learned counsel for the plaintiff.
2. After hearing the learned counsel for the parties, I am inclined to decide the main suit, which is fixed for today, therefore, the application stands disposed of. P.L.As. Nos,100-B of 2000, 104-B of 2002 and Civil Miscellaneous No,712-B of 2002
3. As the parties have amicably settled the matter in view of the decision of the Verification Committee, constituted under section 10(5) of the Corporate and Industrial Restructuring Corporation Ordinance, 2000, therefore, all these applications have become infructuous. Disposed of accordingly.
Main suit
4. Learned counsel for the plaintiff submits that although pursuant to the decision of the aforementioned Verification Committee, entire determined liability has been liquidated by the defendant No,1 yet the amount of liquidated damages is still due against the defendant-Company, which matter has been left to the decision of this Court. In the above perspective, the learned counsel for the plaintiff requests for the grant of amount of liquidated damages, which prayer has been opposed by the learned counsel of the defendants.
5. The plaintiff is not entitled to recover the amount of liquidated damages, as per the principle laid down in the judgment reported as Allied Bank of Pakistan Ltd., Faisalabad, 2001 M LD 1955, wherein it has been held that the plaintiff-Bank is not entitled to recover the amount of liquidated damages.
In view whereof, the plaintiff, in the instant case, is also not entitled to claim the amount of liquidated damages, thus, the claim of the plaintiff regarding the said amount cannot be entertained and the same stands rejected.
6. In the above perspective, as all other amounts have been paid and the claim regarding the liquidated damages has been rejected, therefore, the suit has become infructuous, as such, stands dismissed with no order as to costs.