Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss. 3, 12 & 27 Civil Procedure Code (V of 1908), S.12(2) ¬Decree in suit for recovery of loan Application under S.12(2), C.P.C. for setting aside the decree of Banking Court -Maintainability Provisions of S.12(2), C.P.C. have no application to proceedings arising out of Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997. Emirates Bank International Limited v. Messrs Usman Brothers and others PLD 1998 Kar. 338; United Bank Limited v. Messrs Zafar Textile Mills Limited 2000 CLC 1330 and Life, Paper Store and others v. Bank of Punjab and others 2001 YLR 77 ref. JUDGMENT Through the filing of this Constitutional petition, the petitioner has called in question order dated 5 7 1999, whereby the learned Judge, Banking Court No.IV, Lahore, dismissed an application, filed by the petitioner under section .12(2), C.P.C. with a prayer that the same may be declared as illegal, unlawful and without jurisdiction. 2. Habib Credit and Exchange Bank Limited, the predecessor Bank of respondent No. 1, filed a suit for recovery of Rs. 78,02,819.34 against respondents Nos.2 to 6 and the petitioner which was decreed by the Banking Court vide judgment and decree dated 25 3 1998. Pursuant to the above, an execution application was filed, wherein the property bearing No.99, Shah Jamal, Lahore, statedly belonging to the petitioner, Was attached under the orders of the Court and the Court auctioneer was appointed for auctioning the property. The petitioner moved an application under section 18(6) of the Act XV of 1997 read with section 47 and Order XXI, rule 58, C.P.C. Subsequently, the petitioner filed another application under section 12(2), C.P.C. challenging the decree dated 25 3 1998 on the ground of having been obtained through fraud and misrepresentation, but the said application was dismissed by the learned Banking Judge vide order dated 5 7 1999, hence, the present writ petition. 3. Despite the service of notices through registered postal card, none has entered appearance today on behalf of respondents Nos. l to 6, hence, they are proceeded ex parte. 4. Learned…

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