Law:

Section:

Banking Companies (Recovery of Loans) Ordinance (XIX of 1979)-------S. 7---Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), S. 22---Suit filed by plaintiff/customer seeking recovery of damages from Financial Institution/Bank---Plaintiff had contended that he had availed letter of credit facility from defendant bank and negotiated credit facilities on agreed rates and terms of conditions and subsequently delivery of his goods was delayed due to actions of the defendant bank which were, inter alia, escalation of prices, high interest and non-commercial and foul practices, which caused immense loss to the plaintiff---Held, that onus to establish veracity of allegations regarding alleged damages absolutely and unquestionably lay on the plaintiff and he had to establish that the losses and damages were caused by an act, omission or unnecessary negligence of the defendant bank or that the defendant bank had deliberately failed to comply with its responsibilities---Plaintiff had failed to establish his claims and evidence led by the plaintiff was miserably lacking in proving that he sustained damages because of any fault of defendant bank---Plaintiff had also admitted that no notice was issued to the defendant for alleged damages prior to institution of the suit---Plaintiff had therefore failed in discharging his burden to prove that he suffered alleged losses because of defendants and due to said reason, the burden never shifted to the defendant bank---Appeal was dismissed, in circumstances. ORDER SHAHNAWAZ TARIQ, J.---Through the instant appeal, appellant Aijaz Mahmood has assailed the judgment dated 29-10-2009 and decree dated 17-11-2009 passed by the learned Banking Court No.IV, Karachi in Suit No.137 of 1999, whereby the suit filed by the appellant for recovery of damages was dismissed. 2. Relevant facts in brief relating to the present appeal are that the appellant originally filed the suit bearing No.406/1989 before this Court for accounts and recovery of Rs.3,027,983.13 under the Banking Companies (Recovery of Loans) Ordinance, 1979 in the month of March 1989, under the banking jurisdiction of this Court. Subsequently, said suit was…

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