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

Section: 9(2)

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 9(2)-Bankers' Books Evidence Act (XVIII of 1891), S. 2(8)---Suit for recovery of loan---Statement of account submitted by financial institution before the Banking Court---Verification in terms of Bankers' Books Evidence Act, 1891---Scope---In the present case, the account statement submitted before the Banking Court carried a note at the end stating "Certified and verified on Oath that all the entries contained in the statement of account are true copies of the entries contained in ordinary books of the bank maintained and prepared in ordinary course of business and the said books are still in the custody of the bank. These entries have been certified after verification from the original ledger/ bills of the banker"---Said note practically incorporated the language of S. 2(8) of the Bankers' Books Evidence Act, 1891 and therefore met the requirement of law---Furthermore each page of the account statement was duly stamped and initialled by the concerned official of the Bank which amply and adequately met the requirements of the law---Petition for leave to appeal was dismissed and suit of financial institution was held to be pending before the Banking Court. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 9(2)-Bankers' Books Evidence Act (XVIII of 1891), S. 2(8)---Suit for recovery of loan---Statement of account submitted by financial institution before the Banking Court---Verification in terms of Bankers' Books Evidence Act, 1891---Scope---Account statement was one comprehensive document containing the entire history of the account containing credit and debit entries in a chronological order and was only required to contain verification at the end of such document. ORDER IJAZ UL AHSAN, JUSTICE:---.--- The petitioner seeks leave to appeal against a judgment of the Lahore High Court, Rawalpindi Bench, Rawalpindi dated 27.06.2019 ("impugned judgment"). Through the impugned judgment a Regular First Appeal filed by the respondent-bank was allowed and the judgment and decree of the Banking Court whereby the suit of the respondent-bank was…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492