Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 10

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---Ss. 9, 10 & 22---Civil Procedure Code (V of 1908), O.VIII, Rr. 3 & 4---Suit for recovery of loan amount---Evasive denial of plea raised in leave application-- Effect---Defendant's plea was that an amount of Rs.1, 65, 000 from his account in another Branch of plaintiff-Bank had been unauthorisedly withdrawn through bogus cheque---Banking Court rejected application and passed decree in terms of suit ---Validity--­Bank had evasively denied such plea of defendant---If such amount had been withdrawn from another account or Branch, plaintiff-Bank was the key respondent in such matter---Defendant was entitled to grant of leave---High Court partly allowed appeal, set aside impugned decree to the extent of Rs.1,65,000 and granted leave to defendant and remanded case to Banking Court for trial of issue raised by defendant. ORDER The respondent-Bank brought a suit for recovery of an amount of Rs.358,388 against the appellants. The appellants brought an application for leave to appear and defend the suit which application has been rejected by the Court below through the impugned order and the decree has been passed in terms of the suit. Learned counsel appearing on behalf of learned counsel for the appellants, states that a specific assertion has been made in the application that an amount of Rs.1,65,000 from the account of the appellants in Pak Block Branch, Allama Iqbal Town, Lahore, of the respondent-Bank, has been withdrawn through bogus cheque and there is no authorization in that behalf. In reply…

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