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

Section: 2(c),9(1)

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 2(c) 9(1)---Banking suit---Locus standi---Decretal amount, assailing of---Filing of fresh suit---Plaintiff settled decretal amount with Bank on behalf of debtor---Subsequently the plaintiff filed a fresh suit for recovery of excess amount received by Bank under the decree passed by Banking Court in earlier suit---Banking Court dismissed the suit filed by plaintiff---Validity---Person who was not a customer of Bank within the meaning of S. 2(c) of Financial Institutions (Recovery of Finances) Ordinance, 2001, such persons had no locus standi to file and maintain its suit---Quantification of amount of default once settled by way of a and decree having attained finality could not be altered in the manner as had been agitated---High Court declined to interfere in the and decree passed by Banking Court and imposed fine upon plaintiff---Appeal was dismissed in circumstances. Crescent Leasing Corporation Limited v. Sahad Goods Transport Company 2013 CLD 854; Sheikh Saleem v. Ataullah Khan 2014 SCMR 1694; Pakistan General Insurance Company Limited v. Muslim Commercial Bank Limited 2015 CLD 600 and S. M. Yousuf and Bros. v. Mirza Muhammad Mehdi Pooya PLD 1965 SC 15 ref. Pakistan International Airlines Corporation v. Khalid Brothers PLD 1992 Kar. 78; Haji Dad Muhammad v. Muslim Commercial Bank Limited 2011 CLD 785; Invest Capital Investment Bank Limited v. Messrs House Building Finance Corporation 2015 CLD 1828; Pakistan General Insurance Company Limited v. Muslim Commercial Bank Limited 2015 CLD 600; Intakhab Hussain Shah v. National Bank of Pakistan 2019 CLD 1021; Moiz Abbas v. Mrs. Latifa 2019 SCMR 74; Province of Balochistan v. Murree Brewery Company Limited PLD 2007 SC 386; Sadruddin Shaikh v. Sajjadullah Qureshi PLD 2006 SC 341; Muhammad Rafiq v. Ataullah 1985 SCMR 1226 and S.M. Sohail v. Mst. Sitara Kabir-ud-Din PLD 2009 SC 397 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 2(a), (d) 9(1)---Banking suit---Pre-conditions---Even if a person is a customer, he has to fulfill other conditions such as availing of finance from financial…

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