ZARAI TARAQIATI BANK vs LAEEQ AHMED
This matter arises from a petition filed before the Supreme Court of Pakistan challenging a decree passed by the High Court in a suit titled 'Laeeq Ahmed v. Zarai Taraqiati Bank'. During the proceedings, the petitioner's counsel stated that a related suit filed by the petitioner against the respondent in the Banking Court at Karachi was near conclusion, and offered not to press the petition if execution of the impugned High Court decree was stayed pending the decision of the Banking Court suit. The respondent's counsel agreed not to seek execution of the decree until the disposal of the Bank's suit. Acting upon the consensus between the parties, the Supreme Court disposed of the petition with a direction that the decree passed in favour of the respondent shall not be executed until the final decision of the suit pending in the Banking Court at Karachi.
- Can execution of a decree be stayed pending the decision of a related suit in a Banking Court based on a statement made by counsel?
- Will a petition be not pressed if an agreement is reached between parties regarding the stay of execution of a decree?
ORDER
The learned counsel for the petitioner at the outset, stated that the proceedings in the suit filed by the petitioner involving the same dispute in the Banking Court at Karachi, is matured for conclusion and if the execution of the decree passed by the High Court in the suit filed by the respondent against the petitioner under challenge before this Court in the present petition, is stayed till the decision of the suit of Bank, he will not press this petition before this Court at this stage. The learned counsel appearing on behalf of Laeeq Ahmed, respondent, has stated that respondent will not agitate for the execution of decree pending disposal of the suit filed by the Bank.
2. In view, of the position taken by the learned counsel for the parties, we dispose of this petition with direction that pending final decision of the suit filed by the Bank against the respondent in the Banking Court, at Karachi, the decree passed in the shit titled `Laeeq Ahmed v. Zarai Taraqiati Bank' shall not be executed. This petition is accordingly disposed of.