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 ex-parte and decree as application under S. 12 Financial Institutions (Recovery of Finances) Ordinance, 2001, was not maintainable---Appeal was dismissed in circumstances. M. Haleem and others v. H. Muhammad Nasim and others PLD 1969 SC 270; Messrs Ammar Rice Dealers and 2 others v. National Bank of Pakistan and others 2004 CLD 857; Mst. Tahira Yasmeen and others v. Muslim Commercial Bank and others 2005 CLD 927; Messrs Agrocare and others v. Zarai Taraqiati Bank Limited 2011 CLD 990; Messrs Sahib Gas Ways through Partner and others v. The Bank of Punjab through Manager 2013 CLD 501 and Messrs Arbab Cotton Industries and Oil Mills through Managing Partner v. National Bank of Pakistan through Branch Manager 2017 CLD 1657 rel. JUDGMENT ABID AZIZ SHEIKH, J.---This judgment will also decide F.A.O. No.46548/2019 as similar question of law and facts are raised in both these appeals. These appeals are directed under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (Ordinance) against two separate orders of even date 27.6.2019 passed by learned Judge Banking Court No.II, Faisalabad (herein after referred to as impugned orders). 2. Relevant facts which are common in both these appeals are that respondent bank filed two separate suits for recovery against the appellants on…

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