Law:

Section:

Financial Institution (Recovery of Finances) Ordinance, 2001 (XLVI of 2001) --.-- --.-- S. 2(c) --.-- Customer --.-- Definition of --.-- Merely being account-holders of bank, appellants cannot be considered as customers. Financial Institution (Recovery of Finances) Ordinance, 2001 (XLVI of 2001) --.-- --.-- Scope of --.-- Amount was deposited with bank but not credited in account --.-- Validity --.-- Claim of recovery of amount and damage do not come within jurisdiction of banking Court --.-- Having regard to facts and considering law, High Court found no illegality or irregularity in impugned orders. Financial Institution (Recovery of Finances) Ordinance, 2001 (XLVI of 2001) --.-- --.-- S. 2(c) & (d) --.-- Customer and finance --.-- No finance facility was granted by H.B.L. to appellant, and facility of letters of credit was granted. Financial Institution (Recovery of Finances) Ordinance, 2001 (XLVI of 2001) --.-- --.-- Ss. 7(4), 9 & 9(1) --.-- Suit for recovery --.-- Payment to foreign bank --.-- Authenticity of cheque --.-- Cheque was found to be fictitious by foreign bank --.-- Banking Court had no jurisdiction to try suit between an account holder and banking company when there was no dispute with banking company in fulfilling any obligation with regard to any loan or finance --.-- Any dispute with regard to fulfilment of conditions of loan and liability arising out of contract executed by bank and customer can be agitated in Banking Court but appellants availed no financial facility from bank and was merely an account holder --.-- Judgment and decree passed by Banking Court was without jurisdiction and as such, is liable to be set aside --.-- Appeal was accepted. JUDGMENT Jawad Hassan, J. --.-- Through the instant appeal the appellants have called in question the legality of impugned judgment and decree dated 16.01.2003 passed by the Respondent No. 2-Banking Court No. 1, Gujranwala whereby suit filed by the Respondents was decreed against the appellants to the tune of Rs. 13,34,828.74/- with costs of the suits and costs of the funds from the date of default till the full and final satisfaction of the decree. 2. The succinct facts of the case are…

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