Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)------S. 9---Suit for recovery of loan---Common issue in both the suits (one by the bank and the other by defendants) was about the accounts with the assertions that borrowers had made excess payments to the bank and in that regard both the parties had led evidence in both the suits while the Bank had claimed that the borrowers had to pay certain amounts for which the Bank had filed the suit for recovery in the Banking Court which was at the stage of hearing of application for leave to defend by the defendants (borrowers)---Counsel of both the parties suggested to the High Court that a Chartered Accountant be appointed to take accounts of both the parties and determine their respective liabilities---Prayers in both the suits would now be confined to the accounts and rest of the prayers would not be pressed by both the parties except with regard to the properties mortgaged by the Bank which too would be subject to the proposed report of the Chartered Accountants---High Court, by consent, appointed Chartered Accountants to undertake exercise of determination of liability of the parties after taking accounts from both the parties and to submit their report within two months from the date of communication of the order. Saalim Salam Ansari for Plaintiff (in Suit No.-B-20 of 2002) and Saalim Salam Ansari for Defendant (in Suit No.-B-39 of 2003). Arshad Tayebaly for Plaintiff (in Suit No.-B-39 of 2003) and Arshad Tayebaly for Defendant (in Suit No.-B-20 of 2002). ORDER In these proceedings the common issue in both suits is that of accounts. According to Mr. Saalim Salam Ansari, his clients have made excess payment to the Bank and in this regard the parties have led evidence in Suit No.B-20 of 2002, which suit is pending in this Court for arguments. On the other…

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