ZARAI TARAQIATI BANK vs LAEEQ AHMED
This matter concerns a petition for leave to appeal before the Supreme Court of Pakistan arising from a dispute between Zarai Taraqiati Bank and the respondent, Laeeq Ahmed. The core legal question involved the potential conflict between competing proceedings: a suit filed by the Bank pending in a Banking Court at Karachi and a decree passed by the High Court in a separate suit filed by the respondent against the Bank. During the proceedings, counsel for the petitioner proposed that if the execution of the High Court decree were stayed pending the final decision of the Bank's suit, the petitioner would not press the current petition. Counsel for the respondent consented to this arrangement, agreeing not to pursue execution of the decree until the Bank's suit is resolved. The Court, accepting this mutual agreement, disposed of the petition with a specific direction that the decree in the respondent's suit shall not be executed until the Banking Court reaches a final decision in the Bank's pending suit.
- Can the execution of a decree be stayed by the Supreme Court based on the mutual consent of the parties pending the outcome of a related suit?
- Does the pendency of a related suit in a Banking Court provide grounds for staying the execution of a decree obtained in a separate suit?
ORDER
' The learned counsel for the petitioner at the outset stated that the proceeding 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 suit tiled Laeeq Ahmed v. Zarai Taraqiati Bank shall not be executed. This petition is accordingly disposed of.
Cited by 2 cases
- Messrs UNITED BANK LIMITED through Authorized Attorneys vs BANKING 2012 CLD 1556
- M/S. United Bank Limited Through Its Duly Authorized Attorneys vs The 2013 P.C.T.L.R. 193