Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 9---Suit for recovery of bank loan---Un-rebutted documents---Effect---Bank produced documentary evidence to prove borrower's failure to repay loan amount---Borrower did not produce evidence in rebuttal to disprove documentary evidence of bank---Banking Court dismissed application for leave to defend the suit and decreed the same in favour of bank---Validity---Un-rebutted documentary evidence of bank successfully established borrower's default in payment of loan amount---Banking Court properly appreciated evidence in accordance with settled principles of law and not a single anomaly either legal or factual was pointed out by borrower---No substantial objection and/or prima facie defence was raised by borrower before Banking Court---Un-rebutted documents filed by bank fully substantiated its claim and finding recorded by Banking Court required no interference by High Court---Appeal was dismissed in circumstances. ORDER NAIMATULLAH PHULPOTO, J.---Granted. 2. Granted for the time being subject to all just exceptions. 3, 4 & 5. Through this appeal, appellant has called in question judgment dated 17-10-2011 and Decree dated 2-11-2011 passed by learned Judge Banking Court No.1, Karachi, in Suit No.448 of 2010, whereby suit filed by the respondent/Standard Chartered Bank (Pakistan) Limited for the recovery of an amount of Rs.20,265,160-32 under Section 9 of the F.I.O. 2001, was decreed in the sum of Rs.15,875,134 with cost of funds from November 2009 till realization of the decretal amount. The facts in nutshell, as disclosed in plaint, are that respondent/Bank filed suit against the appellant for the recovery of an amount of Rs.20,265,160-32, alleging therein that on 13-9-2006, at the request of appellant/defendant, the Respondent/Bank sanctioned a finance of Rs.15,000,000 (Fifteen Million only) to the appellant, who executed required securities to secure the finance granted by the respondent/Bank. The appellant used financial facility sanctioned by the respondent/Bank, but ignored to pay back the finance in prescribed manner and thus committed default in his obligation resulting in an…

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