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

Section: 7

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---Ss. 7(6), 9 & 10---Suit for recovery of outstanding amount of loan---Application for transfer of suit---Mere seeking transfer of the suit on the ground of preventing conflicting s, was not enough in ordering transfer of the Banking cases---While exercising such power of transfer, the very object of achieving expeditious disposal of Banking cases as provided in Financial Institutions (Recovery of Finances) Ordinance, 2001, must not be lost sight of and must always be kept in mind while deciding transfer application---While considering such transfer application, the High Court must ensure that the very purpose for which expeditious mechanism for disposal of recovery suit was devised under Banking laws, was not defeated---Whether the purpose was to avoid conflicting decisions or to defeat the very disposal of the Banking suit should be glanced from the pleadings of the parties---Case was not fit where transfer of the case could be ordered in the mechanical fashion---Application for transfer of suit, was dismissed, in circumstances. ORDER MUSHIR ALAM, C.J.---Applicant Mehmood-uz-Zaman Khan, the borrower/customer of the respondent No.1, Standard Chartered Bank (Pakistan Limited), seeks transfer of Suit No.266 of 2009 pending in the Banking Court No.II at Karachi to this Court to be heard and tried along with Suit No.B-169 of 2009 filed by the applicant. It appears that the respondent No.1 filed the Suit for Recovery of the outstanding amount on account of her finances extended to the applicant. Leave to defend application filed by the applicant has since been granted and matter is now coming up for evidence of the respondent No.l's witness. It is an admitted position that affidavit in evidence of the respondent No.1 has already been filed and matter is fixed on 9-8-2011 for cross-examination. It seems that the suit filed by the applicant bearing No.169 of 2009 for damages is pending before this Court. Leave to defend application is still not heard and according to the learned counsel the case is to be heard and decided on preliminary objections as to the jurisdiction of this Court and will…

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