Law:

Section:

(a) Administration of justice--- ----Prevailing law---Applicability---Any action on the basis of existing law, cannot be said to be unlawful if performed under four corners of law. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9, 15 & 22---Suit for recovery of finance---Execution proceedings---Appellant/borrower defaulted in payment of outstanding installments---For recovery, process was initiated under existing laws---Recovery procedure was adopted in terms of S. 15 of Financial Institutions (Recovery of Finances) Ordinance, 2001, as available at the relevant time which was only later declared ultra vires---Suit filed by respondent/financial institution was initiated once the matter was set at rest by Supreme Court for recovery under S. 15 of Financial Institutions (Recovery of Finances) Ordinance, 2001---Validity---Suit filed by respondent/financial institution was in time and there was no ambiguity or error in findings of Banking Court's judgment---Two receipts could not form part of account of lease rentals---Definition of S. 2 of Financial Institutions (Recovery of Finances) Ordinance, 2001 included Leasing Companies for the purposes of defining Financial Institution to invoke jurisdiction of Banking Court---High Court declined to interfere in judgment and decree passed by Banking Court in favour of respondent/financial institution and against appellant/ borrowers---Appeal was dismissed accordingly. National Bank of Pakistan and 117 others v. SAF Textile Mills Ltd. and another PLD 2014 SC 283 rel. JUDGMENT MUHAMMAD SHAFI SIDDIQUI, J.---These two appeals having been filed by common appellant/borrower arising out of a consolidated judgment purportedly passed in Suit No.31 of 2010 and Suit No.195 of 2014. 2. Brief facts which are very essential for the purpose of deciding the controversy in hand are as under:- (i) Originally a Suit for declaration, permanent injunction, rendition of accounts and damages was filed as Suit No.31 of 2010 by borrower/appellant. This was without any prayer clause of damages. The Suit was dismissed by the Banking Court which judgment was challenged by the same appellant/borrower in Civil…

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