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

Section: 2(b),19(7)

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 2(b) 19(7)---Execution of decree---Pecuniary jurisdiction---Determination---Respondent/Bank filed suit for recovery of Rs. 109.460 million and after passing of consent decree, amount claimed by decree-holder bank was reduced to Rs. 64.900 million---Applicant/ debtor sought transfer of Execution Proceedings to Banking Court on the plea of lack of pecuniary jurisdiction of High Court---Validity---Applicant/ debtor on one hand accepted concession of easy installments along with conditional waiving off the claims regarding amounts of costs of funds, charges, markups etc. while not objecting to original decree despite the same being less than Rs. 100 million and not even at subsequent stage of modified agreement while taking further concessions---Applicant/ debtor on the other hand took a totally different plea of lack of pecuniary jurisdiction at much belated stage---Such transfer application seemed to be an attempt to avoid scheduled and agreed upon payments/installments---If stance of applicant/ debtor was to be accepted as correct then as a necessary consequence initial consent decree was also liable to be set aside on the sole ground of being coram non judice and in that case applicant/ debtor was bound to pay Rs. 109.460 million claim of respondent/Bank---High Court declined to transfer execution proceedings to Banking Court on the ground of pecuniary jurisdiction---Application was dismissed, in circumstances. Habib Bank Limited through Attorneys v. Messrs Rehmania Textiles Mills (Pvt.) Limited Jhang Road, Faisalabad 2003 CLD 689; Mashraq Bank v. Messrs Amtul Rehman Industries (Pvt.) Limited and others 2002 CLD 336 and MCB Bank Limited through Duly Authorized Attorney v. Eden Developers (Pvt.) Limited and others 2019 CLD 219 ref. Muhammad Khalid alias Khalid Mehmood and others v. Muhammad Yousaf and others 2017 YLR 2347; Muhammad Yousaf v. Mrs. Muhammad Mohsin and 5 another 1986 MLD 342; Dr. Pir Muhammad Khan v. Khuda Bukhsh and others 2015 SCMR 1243 and Sardar Ali Khan v. State Bank of Pakistan and others 2022 SCMR 1454 rel. ORDER JAWAD HASSAN, J.---Through this Application…

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