Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 10---Bankers' Books Evidence Act (XVIII of 1891), S.4---Suit for recovery of bank loan---Conditional leave---Non-compliance of condition---Certified statement of accounts---Defendants failed to comply with condition imposed while granting leave to defend the suit on the plea that suit was not maintainable---Validity---No rebuttal of statement of accounts was on the record and as such the suit was maintainable---Certified statement of accounts under S.4 of Bankers' Books Evidence Act, 1891, was the core document under S.9 of Financial Institutions (Recovery of Finances) Ordinance, 2001---Statement of account was available on record and no entry of the same was challenged and as such it was presumed that account prepared and maintained by bank were correct---Statement of account having certificate under S.4 of Bankers' Books Evidence Act, 1891, was admissible per se specially when there was no opposition and there was no objection against any debit entry---In absence of any rebuttal, amount due as per statement of account would be deemed to be the correct liability of defendants---Suit was decreed accordingly. Haji Ali Khan and Company, Abbottabad and 8 others v. Messrs Allied Bank of Pakistan Limited Abbotabad PLD 1995 SC 362; Naeem Iqbal v. Mst. Zarina 1996 SCMR 1530; Col. (Retd.) Ashfaq Ahmed and others v. Sh. Muhammad Wasim 1999 SCMR 2832 and Messrs Qureshi Salt and Spices Industries, Khushab and another v. Muslim Commercial Bank Limited Karachi through President and 3 others 1999 SCMR 2353 ref. ORDER C.M. No.167-B of 2012 MUHAMMAD KHALID MEHMOOD KHAN, J.---The plaintiff filed a suit for recovery of Rs.75,487,490.42 against defendants. The defendants filed application for permission to defend the suit and raised numbers of objections as to the maintainability of suit, authority of signatory to plaint, documents relied upon by the plaintiff as well as authenticity of charge documents. The defendants objections were attended to and on 23-12-2011 and application for permission to defend the suit, was allowed subject to deposit of Rs.40 Million with the Deputy Registrar…

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