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

Section: 19

Financial Institutions (Recovery of Finances) Ordinance (XL VI of 2001)--S. 19---Execution of decree---Incentive scheme issued by Bank after passing of decree---Judgment-debtor claimed benefit of such scheme---Validity---Provisions of .any incentive- scheme did not have any relevance in execution proceedings---Decree validly passed by Appellate Court had to be executed by Executing Court in accordance with its terms---Executing Court had no power to go behind decree or modify same on basis of .any incentive scheme issued by Bank---Decree was passed on 15-1-1995, but debtor had not paid even a single rupee---Judgment-debtor was, thus, not entitled to claim benefit of incentive scheme; which required a borrower, as a condition precedent, to deposit amount required under incentive scheme within time stipulated therein. JUDGMENT JAWWAD S. KHAWAJA, J.---The facts, on the basis of which this appeal was admitted to regular hearing have been noted in the order dated 10-9-2002. For completeness, he relevant part of. the said order' is reproduced as under:-- "This appeal impugns the order dated 18-6-2002 passed by the learned Banking Court No.II, Lahore. 2. Learned counsel for the appellants contends that the appellant is entitled to incentive scheme dated 20-4-2002 issued by the respondent-Bank and duly advertised in daily 'The Jang' on 22-5-2002. According to the learned counsel, amount of the decree passed against the appellant is in excess of Rs.5 million, the appellant availed three separate facilities by way of demand finance, transport finance and running finance respectively. Each of these facilities is for a sum less than Rs.5 million, because the demand finance was for Rs.4,400,000, the transport finance was Rs.3,177,000 and the running finance was for a sum of Rs.1,500,000. 3. Learned counsel states that on account of the express condition contained in paragraph at Serial No.4 of the Incentive Scheme, each facility was to be taken separately for the purposes of determining entitlement under the said scheme. For purposes of ready reference; paragraph at Serial No.4 of the Scheme is reproduced:-- `4. If .a client has more than one account and he wishes to avail…

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