Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 10---Suit for recovery of loan amount by Bank---Dismissal of application for leave to defend suit of defendant on merits in his absence without placing him ex parte and without reference to ground taken therein--Plea of defendant was that on the relevant date, Banking Court had to decide first the application of Bank for obtaining ex parte order against other defendant, whereas he was told that no proceedings would take place on his leave application on such date---Validity---Impugned order was not a speaking order as Banking Court had not given any reason while dismissing leave application---Defendant had been condemned unheard as he was not given a fair opportunity of hearing on his leave application, which was not fixed for hearing on relevant date---High Court set aside impugned order and remanded case to Banking Court for decision of leave application afresh. JUDGMENT SYED AKHLAQ AHMAD, J.---This appeal under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 has been filed against the judgment and decreed dated 27-10-2009 passed in favour of Grays Leasing Limited through Manager, Lease Administration/respondent No.2/plaintiff and against the appellants/defendants. 2. Facts giving rise to this appeal are that on 12-12-2007 a suit for recovery of Rs.22,716,752.00 (Rupees two crore twenty seven lac sixteen thousand seven hundred and fifty two) along with cost of funds, cost of suit and liquidated damages till the realization was filed by Grays Leasing Limited through Manager/respondent No.2/plaintiff against the appellants/ Bhatti Cotton Links through Muhammad Iqbal Bhatti and two others. On 6-2-2008, Muhammad Iqbal Bhatti/appellant moved an application under section 10 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 for leave to appear and defend. On 4-7-2008, Grays Leasing Limited/respondent/ plaintiff in the suit filed an application to obtain ex parte order against Mst. Parveen Akhtar (defendant No.3 with the contention that she has made a deliberate default in submitting application for leave to appear and defend and it is…

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