Law:

Section:

Banking Companies (Recovery of Loans) Ordinance (XIX of 1979) Ss. 6 & 12 Suit for recovery of bank loan Production of additional evidence during pendency of suit Bank produced one witness in its affirmative evidence and reserved its right to produce evidence in rebuttal Bank made application for additional evidence to prove signatures of a witness on plaint Banking Court rejected the application and dismissed the suit Validity Proceedings in the suit were in process, when application for additional evidence was made Object of the application was not to patch up the lacunas in evidence Statement of such witness if recorded, would have facilitated the Court with regard to appraisal of facts requisite for disposal of suit ¬Banking Court had wrongly rejected the application High Court accepted the appeal, set aside the impugned and decree and remanded the case to Banking Court with direction to allow Bank to produce said witness in the suit. JUDGMENT PARVEZ AHMAD, J. We propose to dispose of this Regular First Appeal No. 340 of 1995 which was filed by Messrs United Bank Limited in a suit for recovery of money against Messrs J.J. Traders and another as a result of dismissal of its suit by the Court of Special Judge Banking Lahore on 18 5 1995. 2. The facts which gave rise to this Regular First Appeal are that the present appellant/ plaintiff before the trial Court i.e. Untied Bank Limited filed a suit for recovery of Rs. 1.34.983.34 alongwith accrued and future interest thereon at the rate of 13% per annum till the date of realization of the decretal amount against M/s. J.J. Traders and another with the averments that defendant No. 1 was firm whose sole proprietor was Nisar Ahmad, the defendant No.2 in the suit. The defendant No. l held Account No. CD 5366 with the plaintiffs Bank and on 25 4 1968 an overdraft facility was allowed in favour of the defendants on their request to the tune of Rs.35,000 under Small Loans Scheme. Defendant No. l was, however, granted a loan cash credit/export packing credit to the limit of Rs.84,470 for the purpose of financing its export activities. It was alleged that as a security for the repayment of the said loan, charge/lien on…

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