Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S.7(4)---Jurisdiction--Admitted documents were to be given preference over and above the evidence which was yet to be produced by other party---If, after the evidence is recorded by competent Court of law it arrived at the conclusion that it had no jurisdiction to entertain such dispute in between the parties, the plaint or suit in question may be returned to concerned party with direction to present the same before the competent Court having jurisdiction---High Court dismissed the transfer application, leaving the applicant at liberty to file fresh one as and when fresh cause of action arose in his favour. ORDER AZIZULLAH M. MEMON, A.C.J.---Heard learned counsel for the parties. Subsection (4) of section 7 of Financial Institutions (Recovery of Finances) Ordinance, 2001 reads as under:- "7. Powers of Banking Courts:-- (4) Subject to subsection (5) no Court other than a Banking Court shall have or exercise any jurisdiction with respect to any matter to which the jurisdiction of a Banking Court extends under this Ordinance, including a decision as to the existence or otherwise of a finance and the execution of a decree passed by a Banking Court." Learned counsel for the applicant admits at the Bar that the documents relied upon by the respondent-Bank were duly executed by…

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