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BANKERS EQUITY LIMITED vs BANK AL-FALAH LIMITED Ss — 2022 CLD 1478 KARACHI-HIGH-COURT-SINDH

Case information

Citation
2022 CLD 1478 KARACHI-HIGH-COURT-SINDH
Court
Sindh High Court
Year
2022
Reporter
CLD
Parties
BANKERS EQUITY LIMITED vs BANK AL-FALAH LIMITED Ss
Subject matter
Civil
Provisions referred to
S. 12; S. 2; Civil Procedure Code (V of 1908)

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

BANKERS EQUITY LIMITED VS BANK AL-FALAH LIMITED Ss. 2(c), 9 & 22---Civil Procedure Code (V of 1908), S. 12(2)---Suit for recovery of finance---Relationship of customer---Proof---Judgment and decree of Banking Court was assailed on the plea that appellant was not customer of plaintiff Bank---Validity---No relationship existed between appellant and respondent bank as of customer and financial institution under Financial Institutions (Recovery of Finances) Ordinance, 2001---Appellant did not execute any guarantee nor stood as a mortgager in respect of such finance facility---Banking Court passed judgment decree jointly and severally against appellant as well, which was contrary to the factual and legal position---Respondent Bank while extending short term finance facility to its customer, did not take due care to secure amount and its repayment by getting necessary legal documents including a guarantee and instead of recovering defaulting amount from its customer, roped appellant in suit while treating appellant as customer (guarantor) on the basis of some letters and correspondence between the parties---High Court set aside judgment and decree passed by Banking Court against appellant, as the same was wrongfully passed by treating appellant as a customer in terms of S. 2(c) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Appeal was allowed, in circumstances.

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