Law:

Section:

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss. 9 & 10 Bankers' Book Evidence Act (XVIII of 1891), S.2 Recovery of bank loan Suit filed by person not duly authorized Treating 'Recovery Certificate' as statement of account Application for leave to defend the suit filed by defendants was dismissed by Banking Court and the suit was decreed Plea raised by the defendants was that the plaint was filed by a person who did not have any authority in that respect and no statement of account was filed by the bank Validity High Court, after careful examination of record, did not find any authorization in favour of the person through whom suit was filed and counsel was engaged to represent the bank Such important ground had not been adverted to by the Banking Court in the passed against the defendants Banking Court had wrongly treated the Recovery Certificate as statement of account although same did not qualify as a statement of account If at all the Recovery Certificate did so qualify, it was not verified in accordance with the provisions of Bankers' Book Evidence Act, 1891 Judgment and decree passed by Banking Court was set aside and application of defendants for leave to appear and defend the suit was deemed to be pending before Banking Court Appeal was allowed accordingly. Bankers Equity Ltd. through Attorney and 5 others v. Sunflo Cit Russ Ltd. PLD 1999 Lah. 450 and R.F.A. No.380 of 1994 ref. (b) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) S. 10 Application for leave to appear and defend the suit, dismissal of Non speaking order Banking Court disposed of objection of defendants by observing that "they are of casual and routine type and need not any discussion" and dismissed the application Effect Such finding of Banking Court was not a judicial dispensation because the Court was required to attend the objections raised in the application and if the Court was not persuaded, the reasons should have been recorded. JUDGMENT On, 13 9 1997 the respondent Bank filed a suit for recovery of an amount of Rs.1,11,60,354 against the appellants. Respondents Nos. 1 to 5 and respondents…

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