Legal Question in Banking Law in Pakistan

Dear Sirs,

Kindly opine in the following:-.

A issues 03 cheques to B. All cheques get dishonoured. A then furnishes a "IQRARNAMA" saying that he took money from B for business but the business went into loss. However, loss will be born by him and money will be returned on the proposed/fixed date. The pledge is again not honoured and B registers FIR against A. A is arrested and then released on bail. Suit for recovery is then instituted for recovery of the money.

a. Is it possible to initiate another criminal case against A for not

honouring the promissory note (IQRARNAMA) for repetition of crime

although the same money is already cause of earlier FIRs for cheques

dishonouring.

b. What is the rule to tell the court that Suits under O xxxvii are to be

decreed in some fix time frame. What is that time period.

c. What is the rule to tell the court that personal security on a stamp

paper is not justified/satisfactory and instead the money is to be

deposited in the court after conditional leave for defence.

Thank you Sirs


Asked on 10/03/12, 5:01 am

1 Answer from Attorneys

iqrarnama is not a promissory note. you can not file two cases for one cause of action.according to your averment in this question i think you are getting adequate relief from the court.

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Answered on 11/04/12, 12:45 pm


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