Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 22 & Preamble---Limitation Act (IX of 1908), Ss. 5 & 29(2)---Appeal---Limitation---Condonation of delay---Scope---Appeal filed under S. 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 was governed by a special statute which gave thirty days time period for filing of an appeal and application of S. 5 of the Limitation Act, 1908 was excluded in view of S. 29(2) of the Limitation Act, 1908---Section 5 of the Limitation Act, 1908 was therefore not applicable to filing of an appeal under S. 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Mehreen Zaib-un-Nisa v. Land Commissioner Multan PLD 1975 SC 397 and Shazia Munawar v. Punjab Public Service Commission through Secretary, Lahore PLD 2010 Lah. 160 distinguished. NIB Bank Ltd. v. Muhammad Zia Ali Qureshi 2016 CLD 2160; Allah Dino and another v. Muhammad Shah and others 2001 SCMR 286; Messrs Pangrio Sugar Mills Ltd. v. Bankers Equity Ltd. and 5 others 2015 CLD 637 and Tariq Mehmood v. Atlas Bank 2015 CLD 959 rel. THIS JUDGMENT DELIVERED BY: JAWAD HASSAN, JUSTICE:---.--- Through this appeal, the Appellant has assailed the judgment and decree dated 19.11.2014 passed by learned Single Judge in chamber, whereby suit filed by the Appellant was decreed in the sum of Rs.2,80,96,631.01 together with costs of funds against the Respondents jointly and severally with costs as contemplated by section 3 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the "2001 Ordinance"). The costs of suit were also granted. 2. Brief facts for the disposal of this appeal are that the Appellant Bank granted a RF facility in the sum of Rs.45.000 Million to the Defendant No.1 Company through its offer letter dated 5.4.2008 with expiry on 28.2.2009. Pursuant to the offer letter, the Defendant No. 1 Company executed finance agreement and demand promissory note both dated 8.4.2008. In order to secure the RF facility the Defendants Nos. 2-5 executed their personal guarantees as well as mortgaged their properties, the details whereof are mentioned in paragraph-7 of the plaint. The Defendants…

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