Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 2(b)(II),22

Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 2(b)(II),22

Law: Gilgit-Baltistan (Empowerment and Self Governance) Order, 2009

Section: 69,71,84

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 2(b)(ii) & 22---Gilgit-Baltistan (Empowerment and Self-Governance) Order, 2009, Arts.69 & 71(2) ---Writ petition---Suit for recovery of loan---Jurisdiction of Chief Court to entertain suit filed under Financial Institutions (Recovery of Finances) Ordinance, 2001---Scope--- Intra-court appeal before Chief Court--- Scope---Bank(respondent) had filed a recovery suit against the defaulters (petitioners), and since the claim exceeded fifty million rupees, as envisaged under section 2(b)(ii) of Financial Institutions (Recovery of Finances) Ordinance, 2001, Chief Judge of the Chief Court entrusted the suit to a Judge of the Chief Court---Defaulters filed a writ petition against such order of the Chief Judge with the contentions that nomination and entrustment of the suit to any Judge of the Chief Court, was derogatory to section 2(b)(ii) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, which section only envisaged "High Court" and not the "Chief Court", and that the Chief Court had no concept of Intra-court appeal and if the nominated Judge passed any decree against the defaulters, they would be deprived of their right to Intra-court appeal---Validity---Chief Court assumed and exercised all the powers of a "High Court" under general laws extended to Gilgit-Baltistan---Chief Court had been empowered to entertain the suits under the Financial Institutions (Recovery of Finances) Ordinance, 2001, as a "High Court"---Chief Judge exercised jurisdiction of the Banking Court under the Ordinance and did not act as a Judge of the High Court in its ordinary jurisdiction, therefore, any order/ / decree passed by him could be appealed against before the Chief Court under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, notwithstanding the fact that the Chief Court had no rules of Intra-court appeal---Chief Court directed the competent authority having legislative power to look into the serious consequences of the issue and to introduce necessary amendments to the Gilgit-Baltistan (Empowerment and Self-Governance) Order, 2009---Order…

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