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

Section: 10

(a) Financial Institutions (Recovery of Finances) Ordinance (LXVI of 2001)--Ss. 9 & 10---Bankers' Books Evidence Act (XVIII of 1891), S.2(8)---Civil Procedure Code (V of 1908), O.VII, R.11---Rejection of plaint---Statement of account, non filing of---After refusal of leave to appear in suit, Banking Court rejected the plaint for not filing statement of accounts as per provisions of S. 9(2) of Financial Institutions (Recovery of Finances) Ordinance, 2001--contention of plaintiffs was that after dismissal of petition for leave to appear by Banking Court, suit of plaintiffs should have been decreed automatically---Validity--Contention of plaintiffs was not correct and Courts of law were under legal obligation to apply their mind and correct law, notwithstanding the fact that defendant in the suit had appeared or not before the Courts during proceedings---Statement of facts narrating accounts given in plaint and reflected in documents annexed with plaint was not a statement of account as visualized by the provisions of Bankers' Books Evidence Act, 1891, therefore, plaint in the suit was not supported by statement of accounts as per provisions of S.9 (2) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Plaint was rightly rejected by Banking Court---High Court declined to interfere in the order passed by Single Judge--Appeal was dismissed in circumstances. Bela Automotives Ltd. v. Habib Bank Ltd. 2008 CLD 778; Messrs Haseeb Waqar Sugar Mills Limited's case 2008 CLD 786; Bela Automotives Limited v. Habib Bank Limited 2005 CLD 893 and Messrs ICEPAC Limited and 2 others v. Messrs Pakistan Industrial Leasing Corporation Ltd. 2005 1186 disting. Messrs C.M. Textiles (Pvt.) Limited through Chairman and 5 others v. Investment Corporation of Pakistan 2004 CLD 587; Multiline Associate v. Ardeshir Cowasjee and others 1995 SCMR 362; Province of East Pakistan v. Dr. Azizul Islam PLD 1963 SC 296 and Sindheswar Ganguly v. Stgate of West Bengal PLD 1958 SC (Ind.) 337 ref. (b) Civil Procedure Code (V of 1908)--- ---O.VII, Rr. 11 & 13---Rejection of plaint---Filing of fresh suit---Scope---Rejection of plaint under O.VII, R.11, C.P.C. does not preclude…

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