Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)----------Ss. 17 & 19---Civil Procedure Code (V of 1908), S. 47---Suit for recovery of loan was decreed---Execution proceedings---Judgment-debtor filed application under S.47, C.P.C. raising grievance that in view of the terms and conditions agreed inter se the parties for the grant of finance facility, the balance amount due under the decree was recoverable from the Bank and the executing Court had not calculated the amount and fixed the liability of the Judgment-debtor---Such application was dismissed by the Banking Court---Validity---Liability of the -debtor as well as that of the Bank was finally adjudicated upon by the Court passing the decree---Executing Court could not go behind the decree and -debtor could not raise issues, on the basis of the original transaction which were adjudicated upon by way of the of the said Court---Only exercise, now required to be undertaken, was the calculation of the amount due from the -debtor in terms of the of the Court passing decree---Bank had submitted a statement evidencing the amount due from the -debtor in terms of of the Court---Objection to be raised before the executing Court would be limited to the deviation, if any, from the passed by the said Court---Executing Court could decide the objection, if any, thereby determining the amount due from the -debtor before proceeding further in the matter. ORDER This appeal is directed against the order dated 25-11-2004 whereby the application filed by the appellant under section 47 of the C.P.C. was dismissed by the Banking Court. 2. Brief facts leading to the filing of this appeal are that respondent No.1 filed a suit against the appellant and respondent No.2, which was decreed against the defendants. Aggrieved the appellant filed an appeal before this Court, which was heard along with other connected cases and decided vide the judgment dated 18-9-2003. During the course of the execution proceedings before the Banking Court, the appellant filed an application under section 47, C.P.C. raising the grievance that in view of the terms and conditions agreed inter se the parties for the grant of finance…

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