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

Section: 12

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--S. 12---Ex parte decree---Setting aside of---Contention was that -debtor was informed by the Bank (plaintiff) that ex parte decree had been issued against! him---Validity---Held: Such testimony alone, could not be relied upon, because the notice had to be issued by the Court and served through the process serving agency--­Information given by the Bank about ex parte decree, in circumstances; could not be equated with notice to the -debtor---Ex parte decree was set aside by the High Court. ORDER C.M. 733/B OF 2002 This an application moved by the defendants Nos.1 to 4 seeking setting aside of the ex parte decree dated 26-11-1998 passed against them by the Banking Court. I have gone through the record and also the evidence of the parties led on the two issues framed in this application. It is evident from the order sheet that various summons were issued to the defendants Nos. 1 to 4 and to their learned counsel, but the record shows that none of the notices was actually served on the defendants or their learned counsel. Furthermore, there is no even a report of the process serving agency that any attempt was made to serve notice on the defendants Nos. 1 to 4 or their learned counsel. 2. Learned counsel for the plaintiff-Bank…

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