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

Section: 19

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--Ss. 19 & 22--Civil Procedure Code (V of 1908), O.XXI, R.2-Limitation Act (IX of 1908), Ss.3 & 5-Appeal against order of Banking Court recording satisfaction of money decree on application and statement of decree-holder/Bank-Application for condonation of delay of five days in filing appeal-Appellant's plea that no limitation would run against impugned order for being a void order as Director of applicant's company had no authority to pay decretal amount to Bank-Validity-Jurisdiction of Executing Court was meant for ensuring satisfaction of decree under execution-No other extraneous dispute having no nexus to the object and satisfaction of decree could be agitated before, examined or adjudicated by Executing Court---Impugned order was legal---Applicant despite knowing well had not explained in such application delay of each and every day to satisfaction of Court---High Court dismissed such application in circumstances. National Bank of Pakistan v. Khairpur Textiles Ltd. and others 2001 CLC 1187; Jehan Khan v. Province of Sindh and others PLD 2003 Kar.691 and Ali Muhammad v. Hussain Bakhsh and others PLD 1976 SC 37 distg. (b) Civil Procedure Code (V of 1908)--- ---O.XXI, Rr.2 & 10---Jurisdiction of Executing Court---Scope---Such jurisdiction would extend to ensure satisfaction of decree under execution---No other extraneous dispute having no nexus to the object and satisfaction of decree could be agitated before, examined or adjudicated by Executing Court. ORDER ANWAR ZAHEER JAMALI, J.---This appeal, under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, (hereinafter referred to as the "Ordinance of 2001"), preferred against the order dated 16-3-2005 passed by the Banking Court No.1 at Karachi, in Execution No.75 of 2003, is accompanied with an application under section 5 of the Limitation Act (C.M.A. No.932 of 2005) as admittedly the appeal is barred by limitation. 2. Mr. Khawaja Shamsul Islam, learned counsel for the appellants did not dispute that the certified true copy of the impugned order passed by the Banking Court on 16-3-2005 was…

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