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

Section: 9

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 9---Recovery of finance---Authority to institute suit---Defendant assailed and decree passed against it by Banking Court on grounds that suit was filed by a person not duly authorized by Bank---Validity---Power of Attorney was issued on behalf of Credit Administration Department and Legal Department and was duly executed by Chief Executive Officer of Bank who had authorized two officers of Bank to file suits for recovery of money and other purposes---Words appearing in Power of Attorney in recitals, i.e., 'on behalf of Legal Department or Credit Administration Department' were merely explanatory, contention that powers of attorney were issued on behalf of the Credit Administration Department and the Legal Department and not by the Bank, thus was negated---Supreme Court declined to interfere in s and decrees passed by two courts below--- Petition for leave to appeal was dismissed in circumstances. Trading Corporation of Pakistan Ltd. v. Haji Khuda Bux Amir Umar Ltd. 2007 YLR 1741; Ediga Seshanna and another v. R. Venkataramana Rao AIR 1941 Madras 60; Notified Area Committee, Okara v. Kidar Nath and others AIR 1935 Lah. 345 and Messrs Muhammad Siddiq Muhammad Umar and another v. The Australsia Bank Ltd. PLD 1966 SC 684 distinguished. THIS JUDGMENT DELIVERED BY: SARMAD JALAL OSMANY, J.--- This Petition impugns the Judgment of the learned High Court of Sindh (Sukkur Bench) in 1st Appeal No. 17 of 2012 filed by the Petitioner whereby same was dismissed and the Judgment and Decree of the learned Banking Court in the suit filed by the Respondent Bank against the Petitioner was upheld. 2. Mr. Abdul Hafeez Lakho, learned ASC appearing for the Petitioner has only raised one issue i.e. as to the maintainability of the suit of the Respondent against the Petitioner. In this regard he has referred to the two powers of attorney given by the Respondent's Chief Executive Officer to Ms. Talat Shamim Naz, an officer of the Respondent Bank and Mr. Mansoor Ahmed, another officer of the Respondent Bank for the purpose of filing of suits etc. and conducting legal proceedings on behalf of the said bank.…

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