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

Section: 9,10(4)

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 10(4)---Suit for recovery filed by the bank---Application for leave to appear and defend the suit---Substantial question(s) of law or fact, non-raising of---Effect---Banking Court dismissed application for leave to defend filed by the customer/ defendant, and decreed the suit filed by the bank---Validity---After the plaintiff / bank filed its banking suit, the appellant (customer /defendant) was required to raise substantial questions of law or fact in its application for leave to defend, failing which the Banking Court would pass judgment and decree against him /defendant---Contents of the application for leave to defend submitted by appellant /defendant showed that he failed to raise his defence in terms of S.10(4) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, which (application) required him to expressly set out the amount of finance availed by him, the amounts paid by him to the Bank (plaintiff/respondent) , identify the amount actually payable, identify the disputed amount, etc.---However, application filed by the appellant /defendant was silent on all said points---Impugned judgment and decree had been passed on proper appreciation of facts and law and the Single Judge of the High Court did not make any error while passing the same---First appeal, filed by the defendant/customer, was dismissed accordingly.(b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 10(4)---Bankers' Books Evidence Act (XVIII of 1891), Preamble---Suit for recovery filed by the bank---Application for leave to appear and defend the suit, dismissal of---Scope---Banking Court dismissed application for leave to defend filed by the customer/ defendant, and decreed the suit filed by the bank---Plea of the appellant/defendant was that the banking suit pertained to the finance of previous years---Validity---Plaint and the supporting documents filed by the bank, included, inter alia, the Statement of Account duly verified under the Bankers' Books Evidence Act, 1891, clearly mentioning relevant record/evidence like the finance having been…

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