Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Ordinance (XV of 1997)-------Ss. 7, 9, 10 & 12---Suit for recovery of loan---Application for leave to defend suit---Ex parte decree, setting aside of---Suit by Bank, was decreed ex parte against defendants---Application filed by defendants under S.12 of Banking Companies (Recovery of Loans, Advances, Credits & Finances) Ordinance, 1997 for setting aside ex parte decree was rejected by Court holding that Court had no jurisdiction to review its own order, or decree---Validity---Present was not the case of review, rather it was for setting aside ex parte decree and defendants on showing "sufficient cause" for their non-appearance, could seek its setting aside---Non-appearance of defendants on date of hearing was not deliberate, but was of a bit of negligence on their part in pursuing their application for leave to appear and defend and for such negligence, awarding a decree for colossal amount would be too harsh---Allowing appeal, application for setting aside ex parte order was accepted with the result that ex parte and decree would also stand set aside---Leave application was directed to be decided within specified period. JUDGMENT MIAN SAQIB NISAR, J.---Respondent brought a suit for recovery against the appellants /defendants; appellants filed leave applications, which according to the learned counsel for the respondent, are out of limitation. Anyhow, these applications were fixed for hearing on 10-5-2001, when none represented the appellants/ defendants, consequently, the appellants/ defendants were proceeded ex parte and the suit to the extent of Rs. 1,80,21,544 was decreed in favour of the respondent and against the appellants. Aggrieved of the above, the appellants moved an application under section 12 of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997, seeking setting aside of the above, which application has been rejected through the impugned order dated 6-10-2001. The main reasoning given by the Court below is…

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