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

Section: 9,22

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9, 22---Suit for recovery of Bank loan---Signing and verification of plaint---Authority---Proof---Appellant/defendant assailed and decree passed by Banking Court on the ground that suit was not instituted by a competent person having authority---Validity---Plaint was not accompanying any power of attorney and the same was not instituted by manager---Banking Court specifically framed an issue as to the authority for institution of plaint and its verification---Respondent/plaintiff/Bank produced one witness and brought on record as many as sixteen (16) documents including a letter in favour of witness to give evidence but failed to produce any document showing that the person who instituted the suit and verified the plaint, had any such authority or power as required under S. 9 of Financial Institutions (Recovery of Finances) Ordinance, 2001---High Court set aside and decree passed by Banking Court as institution of suit or…

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