Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 10, 9 & 22---Suit for recovery---Application for leave to defend, dismissal of---Scope---Application of defendants for leave to defend was only allowed to the extent of the issue of "cash liability" and suit was decreed for the remainder amount in favour of the plaintiff Bank---Contention of the defendant, inter alia, was that the impugned order was based on a misreading of the record and that the plaint filed by the Bank was defective---Validity---Perusal of record revealed that the defendant on the one hand negated the authenticity of the Statement of Accounts, on the other hand relied on the same to prove its case, and thus lacked consistency in its stance---No defect in the plaint filed by the plaintiff Bank was pointed out by the defendant and simple denial of execution of documents could not be termed as a plausible defence or an issue which could only be resolved after recording of evidence---Defendant's application for leave to defend was therefore rightly dismissed---Appeal was dismissed, in circumstances. IGI Investment Bank Limited through Attorney v. Messrs Admore Gas Pvt. Ltd. and another 2014 CLD 1354 rel. THIS JUDGMENT DELIVERED BY: JAWAD HASSAN, JUSTICE:---.--- Through this single order we intend to dispose of the instant appeal as well as Regular First Appeal No.372 of 2013 and Regular First Appeal No.373 of 2013 as all the three appeals are outcome of impugned judgment and decree dated 17.01.2013. 2. These appeals before the Court are filed under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the Ordinance) against judgment and decree passed on 17.01.2013 whereby the suit filed by the Respondent Bank was decreed partially to the tune of Rs.388,196,353.17/-. 3. Brief facts of the case are that the Respondent Bank filed a suit for recovery of Rs.524,544,786.57/- against the Appellant Company and others. The Appellant in the instant appeal including other Defendants filed separate petitions for leave to appear and defend the suit by raising various questions of law and facts. The learned Single Judge, after hearing the parties…

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