Peoples’ Bank v. Rolax Enterprises (Pvt.) Ltd. – SC CHC APPEAL 12/2011-2011

In the case between Peoples’ Bank and Rolax Enterprises (Pvt.) Ltd., the court addressed the issue of whether the interest rate, including a penal rate of 31%, applied to a short-term loan granted by the bank was contractually agreed upon or improperly imposed. It was held that the interest rate, as claimed by the bank, was valid, with the bank having established its case on the balance of probabilities. The court reaffirmed the principle that clear, undisputed documentary evidence, such as a promissory note and related correspondence, is sufficient to prove both liability and the applicable interest terms in commercial banking disputes. Reliance was placed on the probative value of the parties’ signed documents and the absence of timely objections to admissibility, underscoring that claim