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

Section: 9,22

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 22---Suit for declaration and recovery of damages---Non-appearance as witness---Presumption---Appellants / plaintiffs being customers of respondent / defendant bank alleged that their fix deposit receipts were unauthorizedly encashed---Trial Court dismissed the suit---Validity---One appellant / plaintiff denied relationship of customer altogether and the other opted not to support his case on oath by appearing as witness, therefore, adverse presumption was raised against him---There was no plausible or cogent explanation in the evidence of appellants / plaintiffs as to what occasioned such deposit receipts to be placed with bank and what in specific was "Amanat" or entrustment which could be referred to that necessitated and which had prevented the respondent / defendant bank from adjusting amounts to settle outstanding liability so as to establish any foundational breach of trust, any contract or specifically unjustified encashment as was claimed---Issue-wise findings concluded that appellants / plaintiffs failed to prove their case and the suit was rightly dismissed by Trial Court---High Court declined to interfere in the judgment and decree passed by Banking Court as there was no misreading and non-reading of evidence nor there was any legal infirmity or jurisdictional defect---Appeal was dismissed, in circumstances.JUDGMENTRASAAL HASAN SYED, J.----This appeal under section 22 of Financial Institutions (Recovery of Finances) Ordinance, 2001 (the "Ordinance") is directed against the judgment and decree dated 05.6.2015 passed by a learned Single Judge-in-Chambers of this Court as Banking Judge.2. The appellants, namely, Mian Sadiq Hussain and Mian Fazal Hussain instituted a suit against respondent bank seeking a declaration and also damages and recovery of the suit amount. Case of the appellants as given in the plaint was that their fixed deposit receipts mentioned in its paragraph No.4 were kept with the bank out of which four fixed deposit receipts at serial Nos. v, vi, vii and viii were encashed by the appellants, however, the other four receipts mentioned at serial…

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