Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 10---Civil Procedure Code (V of 1908), S.144---Recovery of bank loan---Leave to defend suit---Bank claimed recovery of amount of Rs.117,922.70 with costs of funds at the agreed mark up @ of 0.761 paisa per thousand rupees per day---Defendant took plea in the application for leave to defend that he had not signed the execution of charge and security documents---Defendant also filed an application under S.144, C.P.C. for the refund of Rs.600,000 which was deposited by him in discharge of partial liability determined through ex parte decree passed by Banking Court earlier against him, to stop execution proceedings---Banking Court dismissed both applications of the defendant through consolidated and decree---Validity---Contention of the defendant with regard to execution of charge and security documents was evasive and vague---Statement of account showed that disbursement of facility started in the year 2.000--Mere disputing the validity of the documents by not invoking any legal course to have them adjudged forged and fabricated despite the fact that the suit was filed about 10 years ago, effectively belied the defence/contention of the applicant that documents were not executed by him---Contention of the defendant that application under S.144, C.P.C. should not have been decided along with the petition for leave to defend the suit rather the same should have been decided first, was a mere technical objection without entailing any serious consequences and of no substance, particularly, after rejection of his petition for leave to defend the suit and passing of impugned and decree by the Banking Court---High Court declined to interfere in the and decree passed by Banking Court and dismissed appeal with costs throughout. 2003 CLD 606; 2004 SCMR 1956; 2004 CLD 587 and 2005 CLD 1417 ref. Bank of Khyber v. Messrs Spencer Distribution Ltd. and 14 others 2003 CLD 1410 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 9(1)---Recovery of bank loan---Contention of the defendant was that suit filed was not instituted by the duly authorized…

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