Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)------S.9---Constitution of Pakistan (1973), Art.199---Constitutional petition---Maintainability---Availing financial facility from the Bank---Default in payment of outstanding dues---Financial facilities granted by Bank were utilized by all the petitioners, but huge amounts were outstanding against them, which amounts, despite lapse of time, were not adjusted-Petitioners who were defaulters and failed to pay outstanding dues of various kinds of facilities/loans provided by the Bank to them, were attempting to avoid their liabilities---If there was any dispute in respect of charging of mark-up or interest over and above the agreement entered between the parties, petitioners' remedy lay before the Banking Court; and/or if there was any malpractice or any violation of Banking Laws, Rules, Regulations or guidelines or perverse, arbitrary or discriminatory actions by the Bank/ financial institutions, the efficacious remedy was available to the petitioners before the Banking Mohtasib appointed under S.82 of the Banking Companies Ordinance, who had jurisdiction to look into the complaint of aggrieved person---Constitutional petition was not an efficacious remedy---Constitutional jurisdiction of High Court was an equitable remedy provided in aid of justice and not in aid of injustice---Petitioners, who were defaulters, could not invoke constitutional jurisdiction to avoid their outstanding liabilities---Litigation in High Court was not only time consuming process, but also had adverse effect on business environment---Constitutional petition was dismissed being not maintainable. Abdul Salam Memon, Muhammad Awais Bughio, Ms. Abida Parveen Channa, Syed Nasir Abbas Rizvi, Muhammad Iqbal Bhatti, Munir-ur-Rehman, Ms. Samia Durrani holding brief for S. Tariq Hassan, Agha Zafar Ahmed, Kamran Shahzad Siddiqui, Ms. Kiran Ahmed, Mirza Sarfraz Ahmad and Ms. Fatima Jatoi for Petitioners. ORDER We have heard this petition along with Constitutional Petitions Nos.D-779, D-807, D-997, D-998, D-999, D-1131, D-1137, D-1180, D-1203, D-1232, D-1206, D-1207, D-1208, D-1215 and D-1667 of 2008 as identical question of law…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492