Present:

Mr.Justice Faisal Arab &

Mr.Justice Muhammad Ali Mazhar.

C.P.No.D-956 of 2007

1. For orders on office objection

2. For Katcha Peshi

3. For hearing of CMA-2656/2010

28.10.2010.

Mr.Haji Shamsuddin Rajper for petitioner.

Mr.Shakeel Akhtar Memon for respondent Bank.

O R D E R

FAISAL ARAB, J. The case of the petitioner is that he obtained loan of Rs.1,18,277/- from the respondent Bank but the Bank is now claiming Rs.3,75,784/- though no markup rate was settled between the parties.

Learned counsel for the respondent Bank states that the loan amount was availed in the year 2002 on the basis of markup therefore, the petitioner is liable to pay Rs.3,75,784/-. Learned counsel for the respondent has shown the loan documents wherein though it is stated that the markup shall be charged but no markup rate was agreed upon between the parties.

However, the learned counsel for the petitioner states that if reasonable amount over and above the principal amount is settled then the petitioner would be able to pay the same.

We are of the view that Rs.100,000/- over and above the principal amount shall be reasonable to which the learned counsel for the petitioner is agreeable therefore, let Rs.2,18,277/- be paid to the respondent Bank out of which Rs.1,18,277/- are already lying deposited in this court. The remaining balance of Rs.100,000/- shall be paid by the petitioner on or before 15.12.2010 positively failing which both the counsel are agreeable that standing crop of the petitioner would be attached towards recovery of the settled amount and in case the crop is not sufficient to recover Rs.100,000/- then the balance amount is to be recovered from auctioning of the mortgaged agricultural lands.

Learned counsel for the petitioner states that Rs.100,000/- shall be deposited by the petitioner in this court on or before 15.12.2010. Upon deposit of such amount the Additional Registrar shall pay the same to respondent bank upon proper verification.

Petition stands disposed of.

JUDGE

JUDGE

N.M.