Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) Ss.2(b)(i) & 7(6) Suit for recovery of Bank loan Jurisdiction of Banking Court Transfer of the suit under S.7(6) of the Financial Institutions (Recovery of Finances) Ordinance, 2001 ¬Value of claim made in the suit was sum of Rs.1,81,056.67 Suit pending before the High Court was ordered to be transferred to Banking Court under S.2(b)(0 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. ORDER On 7 9 2001 the learned counsel were required to advance their views on the point of jurisdiction in view of amount of claim in this suit with reference to the jurisdiction of this Court in pursuance to section 2(b) of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Mr. Jawad Sarwana, Advocate for the plaintiff, has argued that in view of Financial Institutions (Recovery of Finances) Ordinance, 2001, jurisdiction to try this suit is with the Banking Court as value of the claim in the suit is Rs.1,81,056.67 only. He placed reliance on subsection (6) of section 7 of the present Ordinance and also referred to the provisions of section 7(6) of the repealed Act (Act XV of 1997). In support of his contentions, he has also placed reliance on the case of Habib Ahmed v. Hong Kong and Shanghai Banking Company 1999 CLC 1953. Mr. Nawab Saeedullah Khan, Advocate for the defendants, has stated that the case has already been partly decided as against defendant No. l and decree has been passed ex parte and presently it is at the execution stage. He stresses upon the fact that initially judgment was passed by this Court ex parte against defendants Nos. l and 2 on 14 11 1983, the matter had attained finality. On 6 5 1990 the…

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