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IN THE BANKING COURT LAHORE

SUIT NO.

OF 2010

SILK BANK LIMITED

(Formerly Saudi Pak Commercial Bank Ltd.) a Financial Institution Company incorporated in Pakistan under the Companies Ordinance 1984, and having its Central Office Silk Bank Building, I.I. Chundrigar Road, Karachi. ...PLAINTIFF

VERSUS

Majid Shaheen S/o Shaheen Maqsood R/o House No.252-Q Sabzazar Scheme, Multan Road, Lahore.
..DEFENDANT

SUIT UNDER THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001 FOR RECOVERY OF RS.1,340,239/-

That the Plaintiff above named begs to submit as under:

a. That the Plaintiff is a Financial Institution as defined under the Financial Institutions (Recovery of Finances) Ordinance 2001 and having its Central Office at Saudi Pak Building, I.I. Chundrigar Road, Karachi. The Plaintiff was formerly known as Saudi Pak Commercial Bank Limited and has been renamed as the Silk Bank Limited.

2.

That the defendant is a Customer as defined in the Financial Institutions

(Recovery of Finances) Ordinance 2001 as he has availed Auto Finance Facility from the plaintiff for purchase of motor vehicle.

2.

That the Plaint has been singed and verified on oath by the duly authorized and constituted Attorneys of the Plaintiff, Mr. Habib-urRehman son of Abdul Rehman and Mr. Mubarik Hussain Khan son of Zahid Hussain Khan, who are fully conversant with the facts of the case and have full powers and authority to sign and file the present suit and to depose in the Court. The Copies of Power of Attorneys are attached herewith as Annexures as A & A1.

3.

That the defendant vide Application Form No.6766 requested the plaintiff to grant Auto Finance facility of Rs.676,155/- for the purchase of motor vehicle i.e. Toyota Corolla XLI, Model 2006, which facility was duly approved/sanctioned disbursed by the plaintiff and a Facility offer Letter issued dated 30.12.2006 to the defendant which was duly accepted by the defendant. Copies of the Application Form and Sanction/Offer Letter are attached as Annexures B & B1.

4.

That the said Auto Finance Facility was fully availed and utilized by the defendant and the defendant signed, executed and delivered the following documents in respect thereof to the plaintiff in order to secure the prompt and regular payment of the above auto finance facility:
i. ii. iii. iv. v. vi. vii. viii. ix.

Agreement for Auto Finance dated 30.12.2006 Irrevocable Power of Attorney dated 30.12.2006 Letter of Hypothecation dated 30.12.2006 Demand Promissory Note Letter of Authority dated 30.12.2006 Purchase Order for advance payment dated 30.12.2006 Irrevocable standing instruction letter dated 30.12.2006 Purchase Order dated 30.12.2006 Delivery Acceptance Letter dated 30.12.2006

x. xi. xii.

Registration Request Letter dated 30.12.2006 Transfer Deed Transfer Form dated 22.01.2007

The copies are attached as Annexure C toC11. 6. That the defendant took over the possession of the Motor Vehicle Registration No. LEA-07 Engine No. X508861 Chassis No. 6051931 Colour White Model 2006 along with all necessary documents/ Certificates, original keys etc and duly signed the delivery acceptance form and delivery acceptance letter as mentioned in Para No.4 hereinabove.

7.

That the said Financial Facility was to be repaid by the defendant in 60 installments commencing from 05.01.2007. However, the defendant made payment of only 11 installments and thereafter failed to make payment of the remaining installments despite repeated requests by the plaintiff from 05.12.2007.

8.

That despite continuously perusing the matter and requesting the defendant to make payment of the monthly installments by the plaintiff the defendant has avoided/neglected and defaulted in payment of the monthly installments with malafidly intentions and ulterior motives which is entitles the plaintiff to receive the Principal amount along with mark-up at agreed rate up to the dated of payment and to take the Possession of the above mentioned Motor Vehicle.

9.

That an amount of Rs.1, 340,239/- in respect of the above Auto Finance Facility availed and utilized by the defendant is outstanding and payable by the defendant to the plaintiff. The break-up/details of the said

outstanding amount is as under:

i) ii) iii) iv) v) vi) vii) viii)

Principal Amount availed Principal Amount paid Principal Amount Outstanding Mark-up outstanding Prepayment Penalty Charges Excise Duty Late Payment charges Insurance Premium Total Amount outstanding

: Rs.791, 100/11 installments : Rs.676,155/: Rs.290,728/: Rs.40,569/: Rs.51,498/: Rs.281,289/: Rs. Nil : Rs.1,340,239/-

Original Statement of Account duly certified as per Law is attached herewith as Annexure-D. 10. That the defendant failed to make payment of the outstanding amount despite various meetings and reminders personally by the officers of the plaintiff and finally through Legal Notice dated 11.12.2010. Copy of the Legal Notice is attached as annexure- E.

11.

The Plaintiff was suffered damages, loss of income etc due to nonPayment amount by the defendant. The Plaintiff is therefore entitled to liquidate damages at the rate of @ 20%.

12.

That the cause of action accrued to the Plaintiff against the defendant firstly when the Auto Finance facility was applied by the defendant and sanctioned by the plaintiff on30-12-2006 and Offer/Sanction Letter was issued and on the dates defendants availed the said facility and executed the Agreement (Finance Agreement along with, promissory Note and other documents when the defendant availed of the said facility. The said cause of action further accrued on the dates when the defendant paid the instalments and on the dates on which the defendant made the default in payment of the instalments and on the date when legal notice was issued and still continued to exist on all relevant and material dates till the

filling of this suit but the defendant wilfully and intentionally failed to liquidate his liabilities and obligations under the Agreement, hence this Suit, falling the same within the limits of Lahore and within the territorial jurisdiction of this Honble Court. 13. That for the purpose of the Court fee and jurisdiction the Suit is valued at Rs.1, 340,239/- and the requisite/maximum Court fee of Rs.15,000/- has been paid thereon accordingly.

PRAY E R
The Plaintiff prays for the judgement and decree against the defendant and in favour of the plaintiff as under: a) Judgment and decree against the defendant above named in the sum of Rs. 1,340,239/- together with mark-up/Cost of funds from the date of default i.e. Dated05-12-2007 till the realization of the entire suit amount. b) Attachment and sale of the Hypothecated vehicle motor vehicle Registration No. LEA-07 Engine No. X508861 Chassis No. 6051931 Colour-White Model 2006. c) Attachment and sale of other immovable and movable personal assets and properties of defendant to the extent of the decree amount. d) Liquidated damages @ 20% on the suit amount from the date of default until realization of the entire decree amount. e) f) Cost of the Suit. Such further and other relief (s) as the nature and the circumstances of the case may require.

PLAINTIFF THROUGH

Zahid Aslam Khan

Muhammad Kamran Siddique

Attorneys-at-Law
Zahid Law Associates
2nd Floor Nawa-I-Waqt Building Shahra-e- Fatima Jinnah Lahore

VERIFICATION: Verified on oath at Lahore on this _____day of December 2010.That Paragraphs No.1 to 11 are correct and true to the best of our knowledge and belief and Paragraph No. 12 to 13 are true to the best of our information.

PLAINTIFF

IN THE BANKING COURT LAHORE


SUIT NO. OF 2010

In Re:

SILK BANK LIMITED, VERSUS Sajid Nawaz Khokhar

(SUIT UNDER THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001 FOR RECOVERY OF RS.742,775/-

INDEX
SR.NO A 1. B Description of Documents
Court Fee Rs. 15,000 Suit Fard pata, form 13/1form 14/1

Annexure Dated

Pages Two pages A,B 1-6 Four pages C,D,E,F

2. 3. 4. 5. 6.

Power of Attorneys of Bank Copies of Application & Sanction Letter Agreement of finance Irrevocable power of attorney LETTER OF HYPOTHICATION

A,A1 B&B1 C C1 C2 3012.2006 30.12.2006 04.01.2007

7-10 11-13 14-21 22-25 29

7.

Demand promissory note Letter of authority Purchase order of advance payment

C3

04.01.2007

30

8. 9. 10. 11. 12.

C4 C5 C6 C7 C8

06.01.2007 04.01.2007 04.01.2007 04.01.2007

31-32 34-35 36 37-39 40-68

Irrevocable standing instruction Purchase order Delivery acceptance letter

13. 14. 15 16

Registration request letter Transfer deed Transfer form Statement of account

C9 C10 C11 F

69-72 73 74-77 78

Plaintiff Through

Counsel

IN THE BANKING COURT LAHORE

SUIT NO.

OF 2010

In Re:

SILK BANK LIMITED, VERSUS Sajid Nawaz Khokhar

(SUIT UNDER THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001 FOR RECOVERY OF RS.742,775/FARD PATA

The address of the plaintiff is as under

Sajid Nawaz Khokhar S/o Muhammad Ashiq Khokhar R/o House No.E-168 Rifal Range Road New Iqbal Park, Lahore Cantt
The service on the plaintiff in respect of any order, summons, and notices may be affected on the above noted address. During the proceeding of the case, in case of any change in the above noted address, the plaintiff will inform this Honble Court accordingly.

Plaintiff

Through

Counsel

IN THE BANKING COURT LAHORE

SUIT NO.

OF 2010

In Re:

SILK BANK LIMITED, VERSUS Sajid Nawaz Khokhar

(SUIT UNDER THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001 FOR RECOVERY OF RS.742,775/-

LIST OF DOCUMENT UNDER ORDER 13 RULE 1 C.P.C


SR.NO A Description of Documents
Suit under section 9 of the Financial Institution(Recovery of Finances)Ordinance
Suit Fard pata, form 13/1form 14/1

Annexure Dated

Reason to Produce To prove and corroborate the contentions raised in the plaint 1-6 Four pages C,D,E,F

1. B

2. 3. 4.

Copies of Application & Sanction Letter Agreement for Finance Irrevocable Power of Attorney Letter of Hypothecation Promissory note

A,A1 B1 B2 04.01.2007 04.01.2007 DO DO

DO

5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15 16

B3 B4 B5 B6 B7 B8 B9 B10 C D E1, E2 F

04.01.2007 04.01.2007 04.01.2007 04.01.2007 04.01.2007 04.01.2007 04.01.2007

DO DO DO DO DO DO DO DO DO DO DO DO

Letter of authority Purchase order Delivery letter Registration request letter Delivery Acceptance letter Registration book Statement of Account Copy of Notice Power of Attorneys of Bank Waklat Nama

Plaintiff

Through

Counsel

IN THE BANKING COURT LAHORE


SUIT NO. OF 2010
SILK BANK LIMITED VERSUS

Sajid Nawaz Khokhar


(SUIT UNDER SECTION 9 OF THE FINANCIAL INSTITUTION (RECOVERY OF FINANCES) ORDINANCE, 2001 RS.742,775/-

LIST OF DOCUMENTS UNDER ORDER 7 RULE 14 C.P.C (RELIED UPON BY THE PLAINTIFF).
The plaintiff will rely upon the following documents along with the documents already filed with plaint as per enclosed list of documents. Sr. No. 1. Questions Are you filling any document along with the plain, if yes what is the description. Do you want to rely on any document, if yes what is their description and in whose possession those documents are. Description of Documents. Yes. As per the attached list of documents under Order 13 Rule 1 of C.P.C. Yes. As per the attached list of documents under Order 13 Rule 1 of CPC. Yes. If required after the Framing of issues. And other documents if Found/demanded necessary Shall be submitted later on.

2. and 3.

Plaintiff Through Counsel

IN THE BANKING COURT NO I LAHORE


SUIT NO. OF 2010

SILK BANK LIMITED VERSUS

Sajid Nawaz Khokhar


(SUIT UNDER SECTION 9 OF THE FINANCIAL INSTITUTION (RECOVERY OF FINANCES) ORDINANCE, 2001 RS.742,775/-

Affidavit of Mr. Habib-ur-Rehman son of Abdul Rehman and Mr. Mubarik Hussain Khan son of Zahid Hussain Khan, who are fully conversant with the facts of the case and have full powers and authority to sign and file the present proceedings.

I, the above named deponent do hereby solemnly affirm and declare as under:That the address of the defendant Sajid Nawaz Khokhar S/o Muhammad Ashiq Khokhar R/o House No.E-168 Rifal Range Road New Iqbal Park, Lahore Cantt is same as explained in the Suit and according to our information that the defendant is still living at the same place and no any other address of the defendant is presented in our record and knowledge contents of this affidavit its are true and correct to the best of our knowledge and belief and nothing has been concealed there from.

DEPONENTS VERIFICATION: Verified on oath at Lahore this ______ day of _______2010 that the contents of above said affidavit are true and correct to the best of my knowledge and belief.

DEPONENTS