Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)------Ss. 9 & 10---Recovery of bank loan---Application for leave to defend the suit---Relationship of banker and customer---Proof---Question of law and fact---Payment of mark-up---Bank sought recovery of bank loan against defendant being defaulter---Defendant denied relationship of banker and customer between them---Validity---Defendant availed finance facility and certain payments were made by defendant to bank on account of mark up, therefore, defendant could not challenge relationship of banker and customer between the parties---Defendant admitted availing of financial facility and also admitted that nothing had been paid towards principal amount which was payable by defendant to bank---Defendant failed to make out any substantial question of law or fact which required evidence to be recorded---High Court declined to grant leave to defend the suit to defendants---Suit was decreed in circumstances. ORDER C.M.A. No.7872 of 2009 MUHAMMAD TASNIM, J.--- This is an application (C.M.A., No.7872 of 2009) under section 10 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 read with section 151, C.P.C. (hereinafter called Ordinance, 2001) filed by the defendant seeking leave to defend the suit unconditionally. Brief facts leading to this suit are as under: That the plaintiff-House Building Finance Corporation Limited maintaining its registered office at Karachi and defendant First Dawood Investment Bank Limited is a financial institution having its registered office at Karachi. Upon representation and warranties by the defendant, the plaintiff placed Rs.75,000,000.00 (finance facility) with the defendant on 11th September, 2008 for a period of 94 days through broker AMZ Securities (Pvt.) Limited in pursuance to defendant's letter dated 11th September, 2008. The defendant availed the finance facility in full but did not repay the same as agreed between the parties. In the circumstances legal notice dated 6th January, 2009 was served upon the defendant calling for repayment of amount due. Such legal notice was responded to by the defendant through its advocate vide letter dated…

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