| Citation(s) |
|---|
| 2023 SLG 540 2023 SLD 540 2023 CLD 307 |
Lahore High Court
F.A.O. No. 46550 of 2019, heard on 7th November, 2022. heard on: : 7th November, 2022.
ABID AZIZ SHEIKH AND SULTAN TANVIR AHMAD, JJ
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F.A.O. No. 46550 of 2019, heard on 7th November, 2022. heard on: : 7th November, 2022.
ABID AZIZ SHEIKH AND SULTAN TANVIR AHMAD, JJ
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Messrs MAKKAH TRADERS through Managing Partner and 3 others
VS
MCB BANK LIMITED
Law: Financial Institutions (Recovery of Finances) Ordinance, 2001
Section: 9(5),10(1),12,22
Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9(5), 10(1), 12, 22---Suit for recovery of Bank loan---Ex-parte decree, maintenance of---Absence from proceedings---Appellants/ defendants during pendency of their petition for leave to appear and defend the suit, absented themselves and were proceeded ex-parte---Banking Court declined to set aside ex-parte and decree under S. 12 of Financial Institutions (Recovery of Finances) Ordinance, 2001---Validity---Decree could only be set aside under S. 12 of Financial Institutions (Recovery of Finances) Ordinance, 2001, if it was passed for failure to file petition for leave to appear and defend the suit---Such application could be filed within a period of 21 days of the date of decree or where summons were not duly served, when defendant had knowledge of decree---High Court declined to set aside…
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