Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) --Ss.7, 9, 10 & 21 Suit for recovery of amount ¬Application for leave to defend suit Dismissal Defendant filed appeal against of Banking Court whereby its application for grant of permission to appear and defend the suit was dismissed Availing of financial assistance and execution of documents by defendant in favour of Bank had not been denied by the defendant Grievance of defendant in main was that entries reflecting in statement of accounts were fictitious and bogus and that mark up claimed by Bank ran contrary to contracted rate etc. Defendant had not been able to point out any wrong or bogus entry in the statement of accounts, creating doubt in one's mind regarding its authenticity Statements of accounts had been prepared in accordance with Bank record and it had been verified as required by law Mark up had been duly highlighted in sanction advice and it had been charged at contracted rate Mere assertion of defendant that loan was without mark up or that rate of mark up claimed by plaintiff ¬Bank was exorbitant, without positive attempt on part of defendant to substantiate same, was of no consequence ¬Contention that plaint had not been filed by a competent person, was repelled as plaint had been duly verified and affirmed on Oath by Manager of plaintiff Bank Other objections raised by defendant were of no importance ¬Banking Court having dealt with matter in a proper manner, well reasoned and decree passed by Banking Court was unexceptional and hardly called for interference in appeal before High Court. JUDGMENT IJAZ UL HASSAN, J. This appeal under section 21 of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997 by Messrs Anna Industries (Pvt.) Ltd., Peshawar through its Chief Executive Azizur Rehman and others, calls in question the legality and propriety of the judgment and decree dated 23 7 2001 passed by learned Judge Banking Court No.II, Peshawar in Suit No.942 1 of 2000, whereby the application of the appellants defendants for grant of permission to appear and defend suit, was dismissed and a decree for recovery of Rs.93,04,593…

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