Law: Banking Companies (Recovery of Loans), Ordinance (XIX of 1979)

Section: 2

Banking Companies (Recovery of Loans) Ordinance (XIX of 1979)---S. 2 (f) (i) [as amended by Banking Companies (Recovery of Loans) Amendment) Act 1992)]---Word "one million" appearing in S. 2 (f) (i) of the Ordinance XIX of 1979, has been substituted by words "ten million" with the result that now pecuniary jurisdiction of Special Court constituted by the Federal Government stood enhanced to rupees ten million, and it was only where value exceeded that amount that the suit could be tried by the High Court---Banking Companies (Recovery of Loans) (Amendment) Act, 1992, whether retrospective in character, so as to affect the cases pending before High Court at the time of its promulgation---Suits in which amount to be recovered was up to "ten million" would now be tried by the Special Court constituted by the Federal Government and not the High Court---Files pending in the High Court would be remitted to the Special Courts where subject-­matter of amount did not exceed rupees ten million---Such cases, however, which had been instituted after coming into force of Banking Companies (Recovery of Loans) (Amendment) Act 1992, on 1st of August, 1992, plaints thereof, would be returned to the plaintiffs for presentation to proper Courts--­Provisions of amending Act being procedural in nature would apply to pending cases also.--[Interpretation of statutes] National Bank of Pakistan v. Taj Muhammad PLD 1984 Lah. 417; United Bank Ltd v. Mian Abdul Khaliq PLD 1988 Lah. 225; Adrian Afzal v. Capt. Sher Afzal PLD 1969 SC 187 and Bashir v. Wazir Ali 1987 SCMR 978 ref. Mst. Yasmeen Nighat and others v. National Bank of Pakistan and others PLD 1988 SC 391 rel. ORDER The question which has arisen for consideration in this and various other cases, is regarding the effect of Banking Companies (Recovery of Loans) (Amendment) Act, 1992, on the matters pending before this Court. 2. On 6th April, 1989, Habib Bank Limited had filed this suit for recovery of Rs.69,85,511.27 as loan outstanding against the defendants under the Banking Companies (Recovery of Loans) Ordinance, 1979, which provides for trial of suits for . recovery of loans, by or against the Banking Companies in a Special…

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