Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---------Ss.10(3), (4), (5), (6) & (12)---Suit for recovery of loan amount---Amended application for leave to defend--¬Defendants objected to debiting of undisbursed amounts and wrong charging of mark-up, but neither showed nor pleaded in leave application any account or tabulation qua specific mandate of S.10(4) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Defendants' contention was that they had filed amended petition for leave under S.10(12) of Ordinance, 2001, thus, remaining subsections thereof would not apply to the same ---Validity---Mandate of S.10(12) of the Ordinance, 2001 was that defendant, who had ,already filed leave application, would file amended leave application in accordance with provisions of said Ordinance---Section 10(12) of Ordinance, 2001 expressly made all provisions of the Ordinance including its subsections (3), (4), (5) & (6) applicable to amended leave petition---Non-submission of mandatory accounts as provided for in S.10(4) would attract penal consequences set out in subsection (6) thereof---High Court rejected leave application for non-compliance with mandatory provisions of S.10(3)(4) of Ordinance, 2001. (b) Jurisdiction--- ----Jurisdiction of a Court within whose territorial limit cause of action or a part thereof would arise, cannot be contracted out by parties. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)----- ----Ss. 2(c)(d), 7(4) & 9(1)(2)---Suit by financial institution against its customer---Assumption of jurisdiction by Banking Court---Prerequisites---"Default" of "customer" in fulfilling "obligation" with regard to any 'finance", which would involve accounting. (d) Bankers Books Evidence Act (XVIII of 1891)--- ----Ss.2(8) & 4---Certified copy of statement of accounts containing entries in books of Bank---Status of such entries and admissible thereof in evidence---Principles. As per settled "Banking practices", every amount/ sum advanced or paid to a customer or sum expended/ incurred for and on behalf of a customer by a Banking Company is entered as 'debit' in the books of Bank…

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