Law:

Section:

(a) Financial Institutions (Recovery, of Finances) Ordinance (XLVI of 2001)------S.3(2)---Civil S.3(2)---Civil Procedure Code (V of 1908), Ss. 13, 20 & 44-A---Limitation Act (IX of 1908), Art.117---Suit for recovery of Bank loan---Judgment passed by foreign Courts---Execution in Pakistan---Scope---Suit based on foreign as a cause of action and suit' based on original cause of action---Maintainability---Res judicata, principles of-:-Applicability-Plaintiff-Bank's Dubai Branch extended financial facility to defendant's company and following default in payment, the Bank filed recovery proceedings against defendants vide -a suit---Courts at Dubai decreed suit against defendants in absentia---On defendant's failure to satisfy s issued by foreign Court, the plaintiff-Bank filed recovery suit against defendants before the Banking Court in Pakistan---Banking Court decreed the suit against defendants---Defendants contended that foreign s constituted res judicata and excluded determination of original cause of action by Banking Court in Pakistan; that claim on foreign s was to be unsuccessful because statutory tests of recognition and enforceability of foreign were not applied by passed by Court in Pakistan; that claim based on original cause of action was not available because it went beyond the scope of suit which was squarely based on foreign s and that suit based on foreign cause of action three aspects namely jurisdiction over subject-matter and over the parties and territorial jurisdiction were to be taken into consideration---Plaintiff-Bank argued that a suit based on a foreign cause of action was maintainable before Courts in Pakistan under provisions of S.20, C.P.C.---Validity---On obtaining a foreign three courses were open to decree-holder, that is, he could execute decree through proceedings under S.44-A of C.P.C. without filing a suit, or, if was after fulfilling conditions of S.13, C.P.C., he could file suit on the basis of foreign keeping in view the provisions of Art.117 of Limitation Act, 1908; or he could file a suit on original cause of action as it did not come to an end after passing of foreign if same was recorded in accordance with provisions…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492