Law: Banking Companies Ordinance, 1962

Section: 25A,93C

Law: Constitution of Pakistan, 1973

Section: 4,10A,18,25

Law: Banking Companies Ordinance, 1962

Section: 9

Banking Companies Ordinance (LVII of 1962)--- ----Ss. 25A & 93C---Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), S. 9---Recovery of finance---Placement on defaulter list---Pendency of lis---Petitioner was limited liability company which was aggrieved of placement of its name on defaulter list of Electronic Credit Information Bureau (eCIB) of State Bank of Pakistan for nonpayment of outstanding dues---Plea raised by petitioner was that nature of relationship between petitioner and respondent was pending adjudication---Validity---Held, there were no financial agreement regarding relationship between parties as "customer" and "financial institution" within meaning of Financial Institutions (Recovery of Finance) Ordinance, 2001 or otherwise---No security documentation existed purporting to secure any obligation that might have accrued---Placement of name of petitioner by State Bank of Pakistan on its defaulter list/eCIB prior to determination of very agreement in respect whereof a default alleged was unwarranted---High Court directed the State Bank of Pakistan to remove name of petitioner company from its defaulter list/eCIB under advisement to all financial institutions concerned---Constitutional petition was accepted accordingly. A & A Services through Proprietor v. Federation of Pakistan through Secretary Ministry of Finance and others 2014 CLD 809; New Jubilee Insurance Company Ltd., Karachi v. National Bank of Pakistan Karachi PLD 1999 SC 1126 Messrs Yousaf Sugar Mills v. Trust Leasing Corporation and others 2006 CLD 1191; Messrs Abdul Aziz Nawab Khan and Company v. Federation of Pakistan, Ministry of Finance and others 2006 CLD 55; Sahibzada Faisal Ali Khan v. Federation of Pakistan and others 2007 CLD 463; Syed Wajahat Hussain Zaidi v. State Bank of Pakistan through Governor and 14 others 2015 CLD 1897 and Multiline Associates v. Ardeshir Cowasjee 1995 SCMR 362 rel. THIS JUDGMENT DELIVERED BY: AGHA FAISAL, J.--- The crux of this judgment is the determination whether the placement of the petitioner on the defaulter list of the Electronic Credit Information Bureau of the State Bank of Pakistan ("eCIB") was just and proper in…

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