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

Section: 7,9,10

Law: Civil Procedure Code (V of 1908)

Section: O.XXXIXRr.1,2

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 7, 10 & 9---Civil Procedure Code (V of 1908), O. XXXIX Rr. 1 & 2---Powers of the Banking Court---Grant of temporary injunction/interim relief by the Banking Court under O. XXXIX, Rr. 1 & 2, C.P.C.---Scope---Banking Court in exercise of its civil jurisdiction had all powers vested in a civil court under the C.P.C. and shall follow C.P.C. with respect to procedure when the same was not provided for in the Financial Institutions (Recovery of Finances) Ordinance, 2001---Power to pass orders relating to grant of interim injunction had neither been prohibited nor had been regulated by any provision of the Financial Institutions (Recovery of Finances) Ordinance, 2001; and therefore Banking Court was vested with powers to grant interim relief as regulated by the C.P.C.---Grant of interim injunction was a part of the working of the judicial system and no separate or specific provision of law was necessary to empower a court to issue an interim order---Banking Court was not required to wait for decision on an application for leave to defend before passing an order for temporary injunction/ interim relief in order to preserve a property as the same would tantamount to putting clog on an inherent power of Banking Court. The Bank of Punjab through General Attorney v. Malik Umer Farooq 2014 CLD 198; Gulistan Textiles Mills Ltd. and another v. Soneri Bank Ltd. and another PLD 2018 SC 322; Additional Collector-II Sales Tax, Lahore v. Abdullah Sugar Mills Ltd. and others 2003 PTD 1664; Islamia University, Bahawalpur v. Muhammad Hameed Bhatti and another 2004 SCMR 649; Imam Bakhsh and others v. Ghulam Nabi and others 1999 SCMR 34; Additional Collector-II Sales Tax, Lahore v. M/S. Abdullah Sugar Mills Ltd. 2003 SCMR 1026; Commissioner, Khairpur Division, Khairpur and another v. Ali Sher Sarki PLD 1971 SC 242; Sindh Employees' Social Security Institution and another v. Adamjee Cotton Mills Ltd. PLD 1975 SC 32; Molvi Muhammad Yaqub v. Chairman, Election Tribunal, N.W.F.P. and others PLD 1976 SC 625; Sardar Shah Bukhari v. Chief Justice and Judges of the High Court of West Pakistan PLD…

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