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

Section: 7,20

Law: Penal Code (XLV of 1860)

Section: 380

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 7 20---Criminal Procedure Code (V of 1898), S. 498---Penal Code (XLV of 1860), S. 380---Theft in dwelling house---Pre-arrest bail, grant of---Jurisdiction of Banking Court---Scope---Complainant, a company deputed by Bank to safeguard pledged stock, got lodged an FIR against the accused under S. 380, P.P.C., for stealing the stock pledged with the Bank---Validity---Provisions of Financial Institutions (Recovery of Finances) Ordinance, 2001 had an overriding effect on anything inconsistent contained in any other law for the time being in force, including Cr.P.C. read with P.P.C., and whenever an offence was committed by a customer, it could only be tried by the Banking Court constituted thereunder and no other forum or the ordinary criminal court had jurisdiction in the matter---Action of filing a complaint and getting registered a criminal case against the accused despite availability of remedy before the Banking Court was a clear indicator of mala fide on the part of prosecution---Petition for grant of pre-arrest bail was allowed. Muhammad Asif Nawaz v. ASJ and others 2014 PCr.LJ 1 = 2014 CLD 45 ref. Syed Mushahid Shah and others v. Federal Investigation Agency and others 2017 SCMR 1218 and Alamdar Hussain v. National Accountability Bureau through Chairman and others 2017 CLD 1101 rel. ORDER MUHAMMAD QASIM KHAN, J. (Noman Almas) seeks pre-arrest bail in case FIR No.331 of 2018 dated 05.8.2018 under section 380, P.P.C. registered at Police Station Saddar Phool Nagar, District Kasur, got lodged by Ghulam Abbas (complainant-respondent No.2), as representative of National Cargo (Pvt) precisely with the allegation that National Cargo deals to safeguard banks pledged stock. Salman Noman Enterprises Limited had availed loan facility from National Bank of Pakistan by pledge of its cotton stock. On 22.07.2018, however, the pledged stock was stolen which theft was detected on 23.07.2018 by godown (warehouse) labour. The information was conveyed to the office of National Cargo Private Limited and onwards to National Bank, whereupon, two officers from the bank visited the site and ultimately…

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