HABIB BANK LIMITED vs Messrs AHMED FOOD INDUSTRIES (PVT.) LTD. and 3

This matter involves a banking suit wherein learned counsel for the parties jointly requested the appointment of a Chartered Accountant or Commissioner to audit the accounts maintained by the defendant with the plaintiff bank from January 1, 1985, to April 30, 2000, to determine the exact liability of the defendant. The core legal question pertained to the ascertainment of financial liabilities regarding Current Finance and Running Finance facilities through a court-commissioned audit. The court accepted the joint request and ordered the appointment of Messrs Mustafa Siddiqui & Co. as the auditor/commissioner, directing them to submit a comprehensive audit report within three months, with the auditor's fee to be settled and borne by defendant No. 1. The principle laid down is that courts may facilitate the settlement of complex financial disputes and accounts through mutual consent of parties by appointing a mutually agreed commissioner for audit.