Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XVof 1997) Ss.9 & 21 Suit for recovery of money Bank filed suit against defendants being legal representatives of deceased borrower, wherein they were issued show cause notice, which they replied by taking a stand that they were not legal representatives of the deceased; property mortgaged with Bank by the deceased was not owned by him and he could not create mortgage over the same; and they were not liable to pay debt of the Bank in excess of the assets left by deceased and inherited by them Banking Tribunal refused to accept such reply and decreed the suit Validity Such question could not be decided without framing issues and recording the evidence Banking Tribunal had decided the suit in a summary manner without adopting such procedure Appellate Court set aside impugned and decree, and remanded the case to Banking Court for its decision afresh within specified time after framing issues and allowing the parties to adduce evidence. JUDGMENT CH. IJAZ AHMAD, J. The brief facts out of which the present appeal arises are that late Iftikhar Ahmad Malik secured a loan from the respondent/ Bank. After the death of late Iftikhar Ahmad Malik, the respondent/Bank filed a suit for recovery against the present appellants being legal representatives of late Iftikhar Ahmad Malik before the Banking Tribunal, Lahore for the recovery of Rs.6,769,376. The appellants filed reply of show cause notice issued by the Banking Tribunal and took a stand for appellants /defendants are not legal representatives of late Iftikhar Ahmad Malik under the law. They further took a stand that the property in question which was mortgaged with the respondent/Bank by late Iftikhar Ahmad Malik in 1992 was not owned by him at that time and he could not thus create a mortgage/charge over the same. The Banking Tribunal refused to accept the reply filed by the appellants to show cause notice issued to them and decreed the suit vide impugned judgment and decree dated 24 7 1997. The appellants being aggrieved filed this appeal. 2. The learned counsel of the appellants submits that loan was obtained by the deceased father of the…

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