Law:

Section:

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)-------Ss.10 & 21---Plea not taken in application for leave to defend suit---Effect---Such. plea could not be taken at time of hearing of appeal before High Court. Citibank N.A. v. Riaz Ahmad 2000 CLC 847 rel. (b) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)----- ----Ss.9, 15 & 21---Bankers' Books Evidence Act (XVIII of 1891), S.4---Suit for recovery of loan amount decreed by Banking Court---Validity---Defendants had not denied availing of finance facility and execution of loan documents---Statement of accounts filed with plaint was duly verified by Bank in accordance with Bankers' Books Evidence Act, 1891---Presumption of truth attached to such statement of accounts had not been rebutted by defendants with cogent reasons orally or through documents---Contention of defendants that blank documents were signed by them, thus, had no force---Defendants had failed to make out any plausible case for grant of leave to defend suit--¬Banking Court was justified in refusing to grant leave to appeal and decreeing suit of Bank---No illegality or infirmity was found in the impugned ---High Court dismissed appeal with directions to Executing Court to consider at the time of deciding execution petition the defendants' contention qua depositing certain amount with Bank. Ghulam Rasool's case PLD 1971 SC 376 and Allied Bank of Pakistan's case PLD 1990 SC 497 rel. (c) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)--- ----S.17(1)---Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), S.18(1)---Banking documents--¬Signing a blank document would amount to creating or impliedly authorizing Bank to fill in any amount at a later point of time. JUDGMENT CH. IJAZ AHMAD, J.---The brief facts out of which the present appeal arises are that the appellants secured loan from the, respondent-Bank. An agreement was also executed between the appellants and the respondent-Bank. According to the terms and conditions of the agreement the appellants had to repay the loan to the respondent-Bank in easy…

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