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

Section: 9

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--S.9(5)---Limitation Act (IX of 1908), S.4---Suit for recovery of loan by Bank---Application for leave to defend suit--- Limitation--- Delay--- Condonation--- Defendant was served through process-server by affixation of notice on 14-12-2002; 13-1-2002 being Sunday, defendant filed the application for leave to defend the suit on 14-1-2002--­Application for leave to defend the suit filed by the defendant on 14-1-2002 in circumstances, was not barred by time. ORDER The present appeal proceeds against judgment and decree dated 15-1-2002, whereby the learned Judge Banking Court, after finding that the application for leave to defend, filed by the appellant, is barred by time, decreed the suit for the recovery of Rs.10,40,675 against the appellant. 2. Facts leading to the filing of the present appeal are that pursuant to the filing a suit for recovery of Rs.10,40,675, by the respondent-Bank, against the appellant, before the learned Judge Banking Court, summons through all the modes of service, provided under the law, were issued to the defendant. Uptil 12-1-2002, no application for leave to defend was filed by the appellant and as the lawyers were busy on 12-T-2002 in Bar Association's Election, therefore, the learned Banking Court adjourned the case to 15-1-2002. Admittedly on 14-1-2002, the appellant filed an application seeking leave to defend the suit, but when the case taken up on 15-1-2002 the learned Judge, after finding that the appellant was served through publication in the newspaper on 12-12-2001 and the application was filed on 14-1-2002, which is barred by time, proceeded to dismiss the aforenoted application and proceeded to decree the suit for the recovery of Rs.10,40,675 together with costs and cost of funds, vide a composite judgment and decree dated 15-1-2002, hence the present appeal. 3. Although notices were sent to the respondent-Bank for today, but none has entered appearance to defend this appeal, therefore, they are proceeded ex parte. 4. The learned counsel for the appellant has contended that the appellant was served through process-server on 14-12-2001, therefore, the…

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