Law: Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997

Section: 10

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)--Ss. 9, 10, 15 & 21---Civil Procedure Code (V of 1908), O.X, Rr. 1 & 2---Suit for rendition of accounts filed against Bank--­Leave to defend was granted to Bank---Banking Court dismissed suit before framing of issues, but after recording better statement of plaintiff finding that plaint did not disclose any cause of action---Validity---After granting leave to defendant, Banking Court was duty bound to frame issues and permit parties to produce evidence---Examination of parties to lis under Order X, C.P.C., was for purposes of ascertaining real matter in controversy and such better statements could not be used as a means of trial--- High Court allowed appeal, set aside impugned decree and remanded case to Banking Court for its decision in accordance with law. (b) Civil Procedure Code (V of 1908)--- ----O.X, Rr. 1 & 2---Purpose of examination of parties to lis is to ascertain real matter in controversy---Better statements cannot be used as a means of trial. (c) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)--- ----Ss. 12 & 21---Ex parte decree---Refusal of Banking Court to set aside decree---Validity---Address of appellant as given in plaint and notices issued to him was that of his previous residence, which was on rent and he had vacated same--­Latest address of appellant was available with Bank, on which statement of accounts and other correspondences were ' sent by Bank before filing of suit---Bank did not controvert such factual position---Service on previous address was no service in law, thus, appellant had not been served on his proper address---High Court allowed appeal, set aside ex parte decree, and permitted appellant to file leave application within 30 days. JUDGMENT MIAN SAQIB NISAR, J.---The instant appeal as also Regular First Appeal No.433 of 2002, are being disposed of together, as both have nexus to the questions involved and are between the same parties. 2. The appellant in Regular First Appeal No.399 of 2001, filed a suit for rendition of accounts against the respondent-Bank, in which leave was…

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