Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 10---Civil Procedure Code (V of 1908), 0.XXIX, R.1---Suit for recovery of Bank loan-Plaint signed by two attorneys of Bank authorized by its President through Power of Attorney notarized in accordance with law---Such Power of Attorney fulfilled requirements of S.9(1) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Suit was validly instituted and maintainable. Banque Indosuez v. Jet Travels Limited and others 1991 CLC 446; National Bank of Pakistan v. Muhammad Ashraf Sanik PLD 1987 Lah. 17 and Khyam Films and another v. Bank of Bahawalpur Ltd. 1982 CLC 1275 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9 & 10---Bankers' Books Evidence Act (XVIII of 1891), Ss.2(8) & 4---Suit for recovery of Bank loan---Leave to defend suit, application for---Defendant's plea was that statement of accounts contained unjust entries without showing details thereof---Validity---Defendant in support of his plea had not pointed out any specific entry in such statement---Such statement lying on record contained all transactions of defendant's account and was certified and dated by competent officer in accordance with provisions of Bankers' Books Evidence Act, 1891---High Court repelled defendant's plea for being vague. Bank of Punjab v. Mrs. Mah Tallat Sultan and another 2006 CLD 773; National Bank of Pakistan and others v. National Battery Industries and others 1994 CLC 2133 and Messrs Saudi Pak Commercial Bank Limited v. Messrs Marvi Agrochem (Private) Ltd. and others 2007 CLD 1374 distguished. National Bank of Pakistan v. Messrs Mujahid Nawaz Cotton Ginners and others 2007 CLD 678 rel. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 9 & 10---Suit for recovery of Bank loan---Leave to defend suit, application for---Leave application showing non fulfilment of requirements of S.10(314) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Defendant's admission to have availed amount of finance mentioned in plaint and executed documents in favour of Bank to secure its…

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