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

Section: 9(5)

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) S. 9(5)---Suit for recovery filed by Bank---Application for leave to defend (PLA), filing of---Limitation, computing of---Date of service to defendant, exclusion of---Scope---Application for leave to defend (PLA) filed by the appellant / defendant was dismissed by the Banking Court for being time barred by one day---Validity---Under S. 9(5) of Financial Institutions (Recovery of Finances) Ordinance, 2001 ( the Ordinance, 2001 ), PLA is to be submitted within a period of 30-days---In the present case, since the Defendants were served through Bailiff on 06.07.2020, therefore, the time to file PLA terminated on 04.08.2020 and the Appellants filed their PLA on 05.08.2020---However, the date of service is not to be included while computing the period of limitation under the provisions of Ordinance, 2001, therefore, on said score the Banking Court erred in law to hold that PLA filed by the Appellants was barred by time, and the impugned judgment and decree merited to be set aside---High / Appellate Court set aside the impugned judgment and decree and the PLA filed by the appellants, being within time , would deemed to be pending before the Banking Court, which would decide the same afresh---Regular First Appeal was allowed accordingly.        Messrs Shahi Textiles and 3 others v. Askari Bank Limited through President 2011 CLD 995 ref.         Date of hearing: 29th September, 2025.                                                                                                        JUDGMENT        MUHAMMAD RAZA QURESHI, J.---This Regular First Appeal under Section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, (the Ordinance ) calls into question Judgment dated 26.10.2022 passed by the learned Judge Banking Court, Dera…