Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 7,9(2),22

Law: Electronic Transactions Ordinance, 2002

Section: 4

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9(2), 7 & 22---Electronic Transactions Ordinance (LI of 2002), S. 4---Suit for recovery---Mandatory requirement of appending statement of account with plaint---Documents/record issued in electronic form---Effect of S. 4 of the Electronic Transactions Ordinance, 2002 on electronically issued statement of accounts---Plaintiff Bank impugned order of Banking Court whereby its suit was dismissed on ground that plaintiff Bank did not comply with S. 9(2) of Financial Institutions (Recovery of Finances) Ordinance, 2001 by failing to append proper statement of accounts---Validity---Banking Court failed to consider that electronic computer generated statements were admissible in evidence, which were filed with the plaint and duly verified on oath per the mandatory requirement of S. 9 of the Financial Institutions (Recovery of Finances) Ordinance, 2001---High Court observed that in modern banking, mostly statement of accounts were generated through the information systems, and being an electronic document, such statement of accounts did not require signature as per S. 4 of the Electronic Transaction Ordinance, 2002---All electronic modes were recognized as evidence under S. 4---Impugned order was set aside, and case was remanded to the Banking Court---Appeal was allowed, accordingly. Mst. Tasleem Fatima and others v. Bank of Punjab and others 2017 CLD 552 and The Bank of Punjab through Branch/Chief Manager v. M/S. Khan Unique Developers Pvt. Ltd. through Chief Executive Officer and 9 others 2016 CLD 29 rel. THIS JUDGMENT DELIVERED BY: JAWAD HASSAN, JUSTICE:---.--- This is appeal filed under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the "Ordinance") against judgment and decree dated 01.04.2018. 2. Counsel for the Appellant states that the Appellant filed the banking suit against the Respondent before the Banking Court, Bahawalpur (the "Banking Court") under section 9 of the Ordinance. He states that pursuant to the filing of the suit, summons/notices were issued to the Respondent, but the Respondent did not appear, hence ex parte proceedings were…

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