AL-BARKAT SEED CORPORATION vs SILK BANK LIMITED Ss — 2023 CLD 372 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2023 CLD 372 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2023
Reporter: CLD
Parties: AL-BARKAT SEED CORPORATION vs SILK BANK LIMITED Ss
Subject matter: Civil
Provisions referred to: S. 10; S. 9

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

AL-BARKAT SEED CORPORATION VS SILK BANK LIMITED Ss. 10(9)(10)(11)(12) & 22---Suit for recovery of Bank loan---Leave to defend the suit, dismissal of---Word 'forthwith'---Effect---Framing of issues and recording of evidence---Application for leave to defend the suit filed by appellant/defendant was dismissed and Banking Court did not passing judgment and decree, instead issues were framed, evidence was recorded and then suit was decreed---Validity---Upon rejection of leave application Banking Court was to forthwith pass judgment and decree under S. 10(12) of Financial Institutions (Recovery of Finances) Ordinance, 2001---Word 'forthwith' was preceded by 'shall' that had not left any discretion with Banking Court but to pass judgment and decree on the material that was available on record---If sufficient material was available on record and suit of respondent/plaintiff/Bank was in accord with S. 9 of Financial Institutions (Recovery of Finances) Ordinance, 2001, then there was no need to proceed further for recording of evidence---If Banking Court on consideration of plaint, leave application and reply thereto was of the view that some substantial question of law and/or fact was raised and it required evidence, then procedure of law as envisaged in Ss. 10(9), (10) & (11) of Financial Institutions (Recovery of Finances) Ordinance, 2001 was to be followed---High Court set aside judgment and decree and remanded the matter to Banking Court for decision afresh on application for leave to defend the suit filed by appellant / defendant--- Appeal was allowed accordingly.

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