Law:

Section:

Non Performing Assets and Rehabilitation of Industrial Undertakings (Legal Proceedings) Ordinance (LVIII of 2000) --s.9 & 2(1), cl.(g), sub cls.(a), (b) & (c) Constitution of Pakistan (1973), Art.199 Constitutional petition "Non¬ performing asset" Ingredients given in sub cls. (a), (b) & (c) of cl.(g) of subsection (1) of S.2 of the Non Performing Assets and Rehabilitation of Industrial Undertakings (Legal Proceedings) Ordinance, 2000 have to exist simultaneously if an asset on the books of a financial institution is to be treated as a "non performing asset" Benefits of S.9 of the Ordinance are available to Financial Institutions and their customers only in respect of "non performing assets" and not otherwise In order for any "non performing asset" to be dealt with under the Ordinance, the amount of such "non¬ performing asset" should be more than thirty million rupees as stipulated in sub cl. (c), cl.(g) of S.2(1) of the Ordinance ¬Provisions of S.9 of the. Ordinance, therefore, can be available only if the amount involved is in excess of thirty million rupees. JUDGMENT The respondents have been served, I.D.B.P. respondent No 2 and National Bank of Pakistan respondent No.8 have entered appearance through counsel. The other respondents have not appeared despite service. They are, therefore, proceeded against ex parte. 2. The circumstances, in which the present writ petition was admitted to regular hearing have already been noted in the admitting order, dated 24 10 2002. The said order, for completeness, is reproduced as under: "This writ petition impugns the order, dated 15 10 2002 passed by the learned Banking Court No. II, Lahore. The facts necessary for deciding this petition are straightforward. I.D.B.P. respondent No.2 filed a suit against the petitioner and respondents Nos. 3 to 8 before the learned Banking Court No. II, Lahore, for recovery of a sum of Rs.1,33,15,763. According to learned counsel, the break up of the aforesaid amount, as given in .the plaint, shows that the principal amount is only Rs.53,17,812. The balance amount of: Rs.79,77,850 has been claimed by I.D.B.P. on account of markup, fines and penalties. (2) 'The petitioner…

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