Law:

Section:

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss. 10, 15 & 21 Suit for recovery of loan amount by Bank Some defendants filed application for leave to defend the suit raising a plea that their property was not mortgaged, while other defendants being real beneficiaries did not file any such application Banking Court decreed the suit Validity Mortgage of property in question in favour of Bank was duly supported by documents -Application for leave to defend did not contain any document to show that property had not been mortgaged with Bank Real beneficiaries had not filed any application for leave to defend the suit, thus, Banking Court had no option except to .pass decree against beneficiaries as per law laid down by Supreme Court in case of Messrs Ahmad Autos (PLD 1990 SC 497) No illegality or infirmity was found in impugned and decree Appeal was dismissed in circumstances. Messrs Ahmad Autos v. Allied Bank of Pakistan PLD 1990 SC 497 rel. (b) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XY of 1997) S. 21(1) Limitation Act (IX of 1908), S.5 Appeal ¬Limitation Delay, condonation of Appellants alongwith appeal filed an application for condonation of delay contending that after filing application for leave to defend the suit, they were under the impression that their names had been struck off from the arena of defendants by Banking Court; and they came to know about the decree after receiving notice from Executing Court Validity ¬Decree was passed on 3 10 2000, whereas application for obtaining its certified copy was filed on 2 4 2001, when the same had already become time barred ¬Appellants had pursued the case throughout before Banking Court, thus, it was their duty and obligation to explain the delay of each day Appeal was dismissed being time¬-barred. ORDER The brief facts out of which the present appeal arises are that the respondent Bank filed suit for recovery amounting to Rs.835,062 before the Banking Court, Gujranwala. The predecessor in interest of appellants Nos.l and 2 filed application for leave to defend. The remaining appellants/defendants who are real beneficiaries did not…

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