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---Question of law and fact---Scope---Defendants admitted availing of finance facilities and also admitted that entire liability was not discharged, however certain payments were made by defendants---Defendants also admitted execution of documents and substantial amount was liable to be paid to bank---Validity---No substantial question of law and fact was raised by defendants, which required any evidence to be recorded by Court---Defendants were supposed to show that entire amount was paid by defendants to bank but defendants 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. Qamaruzzamen Khan v. Industrial Development Bank of Pakistan and others 2009 CLD 460; Messrs Yussra Textile Corporation and 2 others v. PICIC Commercial Bank Limited 2003 CLD 905; Abdul Razzaq v. A.D.B.P. 2002 CLD 1707; Sheikh Muhammad Kashif Zia and another v. Bank of Punjab and another 2004 CLD 388; Allied Bank of Pakistan Limited v. Fahmida and 2 others 2004 CLD 110; Messrs Mohib Exports Ltd. and 4 others v. Trust Leasing Corporation Ltd. 2005 CLD 581; Messrs ARK industrial Management Ltd. v. Messrs Habib Bank Limited PLD 1991 SC 976; Mrs. Yuba Jamil Ansari v. Bank Al-Falah Limited and another 2009 CLD 1177; Habib Bank Limited v. Messrs Pearl Fabrics Ltd. and 7 others 2009 CLD 1185 and Muhammad Khalid Butt v. United Bank Limited 2003 CLD 911 distinguished. Habib Bank Limited v. Messrs SABCOS (Pvt.) 2006 CLD 244; Zeeshan Energy Ltd. and 2 others v. Faisal Bank Ltd. 2004 CLD 1741; Shahid Farooq Sheikh v. Allied Bank of Pakistan Limited 2005 CLD 1489; National Development Finance Corporation v. Spinning Machinery Company of Pakistan Limited 2002 CLD 53; Industrial Development Bank of Pakistan v. N.T.N. (Pvt.) Limited 2002 CLD 369; Bolan Bank Limited v. Baig Textile Mills (Pvt.) Limited and 6 others 2002 CLD 557; Saudi Pak Industrial and Agriculture Investment Company (Pvt.) Limited,…

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