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

Section: 10

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)---Ss. 9 & 10---Civil Procedure Code (V of 1908), O.VI, R.10--­Banking Court, jurisdiction of---Transfer of suit---Plaintiffs filed suit on the ground that amounts had been paid to the defendant according to agreement arrived at between the parties and that no amount was due to the defendant---Defendant in his petition for leave to defend the suit had raised objection with regard to jurisdiction of Banking Court at L contending that under one of the clauses of agreement, if any dispute arose jurisdiction for adjudication would vest with appropriate Court at K and according to said agreement only appropriate Court at K had the jurisdiction in the matter and Court at L would have no jurisdiction---Plaint was returned under O.VII, R.10, C.P.C. to plaintiffs. ORDER The plaintiffs have filed the suit on the ground that, under by-back agreement, certain amounts had to be paid to defendant No. 1 by the plaintiffs, which have been duly paid and now there is no amount due to defendant No. 1 on account of the said agreement. 2. P.L.As. have been filed by the defendants. The defendant No. 1 in the P.L.A. has taken the objection…

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