Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)------Ss.9 & 10---Recovery of bank loan---Plea not raised in application for leave to appear and defend the suit---Loan facility was availed by defendants on 7.7.1993 and mother of appellants mortgaged her property as a security of loan availed by defendants---Application for leave to appear and defend the suit was dismissed by Banking Court and the suit was decreed in favour of bank---Plea raised by appellants was that their mother had died on 6.2.1988, the mark-up was overcharged, the loan facility was enhanced and one of the appellants was abroad during the relevant period---Validity---No death certificate of the mother of appellants was placed on record to prima facie show that she died on 6.2.1988, resultantly simple allegation in that regard was unfounded---Allegation of overcharging of mark-up was not raised in leave application, therefore, High Court did not consider the allegation---Regarding enhancement of loan facility, there was a letter available on record whereby the enhancement was requested and was sanctioned by the bank---Appellant claiming to be abroad, did not place on record any documentary evidence showing his absence from the country---Banking Court had rightly concluded that the appellants had failed to raise any bona fide dispute and therefore, were not entitled to seek the leave to appear and defend the suit---Application was properly dismissed by the Banking Court and the and decree had been passed, which did not suffer from any legal or factual infirmity calling for interference in appeal---Appeal was dismissed in circumstances. JUDGMENT MIAN SAQIB NISAR, J.---Respondent-Bank brought a suit for recovery of an amount of Rs.88,77,718.50, against the defendant No.1 as principal borrower and the other defendants as mortgagors/guarantors. In the suit, the appellants moved an application for leave to appear and defend, which has been disallowed by the learned Banking Court, vide order dated 9-9-1999 and correspondingly the decree to the tune of the suit amount, has been passed in favour of the respondent and against the defendants jointly and…

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