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

Section: 10

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--S. 10(3)(8)--- Application for leave to defend suit---Substantial questions of law or fact requiring recording of evidence---Scope---Court, while considering leave application would not decide questions thereby for same being matter of trial, if leave was granted, rather court only required to be satisfied that defendant had successfully crossed threshold imposed by S. 10(8) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Question of fact could not be decided without recording evidence---Leave could be granted if either substantial questions of fact or mixed questions of law and fact were raised as evidence would be needed to be recorded for deciding such questions---Pure question of law, even if substantial, could be decided without recording evidence, thus, leave could not be granted in respect of such question, which ought to be decided by court at leave granting stage there and then---Pure question of law decided at leave granting stage could not be re-opened or re-agitated at any subsequent stage of suit---Principles. (b) Jurisdiction--- ----Choice of forum clause in an agreement---Validity---Choice or agreement of parties could not confer jurisdiction on courts of forum, unless such jurisdiction otherwise vested in them---Forum chosen by parties in agreement would not be conclusive. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9 & 10(8)---Civil Procedure Code (V of 1908), S. 16---Suit for recovery of loan amount---Leave to defend suit, application for---Territorial jurisdiction of court at place "K" to entertain such suit objected to by defendant---Cheques showing repayment of loan amount issued and handed over to representative of plaintiff at place "M" and deposited by plaintiff in its bank account at place "K"---Effect---Such documents would indicate that payments had been made outside place "K"---Defendant in view of such facts had raised a substantial question of law and fact, which would require recording of evidence. (d) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9 &…

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