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MCB BANK LIMITED vs ADEEL SHAHBAZ STEEL MILLS Ss — 2023 CLD 655 LAHORE-HIGH-COURT-LAHORE

Case information

Citation
2023 CLD 655 LAHORE-HIGH-COURT-LAHORE
Court
Lahore High Court
Year
2023
Reporter
CLD
Parties
MCB BANK LIMITED vs ADEEL SHAHBAZ STEEL MILLS Ss
Subject matter
Banking
Provisions referred to
S. 2; S. 9; S. 5

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

MCB BANK LIMITED VS ADEEL SHAHBAZ STEEL MILLS Ss. 2(a), 5 & 9---Financial institution---Establishment of Banking Court---Procedure of Banking Courts---Scope---Section 9(1) stipulates the term 'Branch Manager', which, when read in conjunction with S. 2(a), implies that the suit is to be filed by the aforementioned Branch Manager in accordance with Ss. 9(2) & 9(3)---Suit should demonstrate the amount availed by the defendant, the amount paid by the defendant to the financial institution, and other finance-related amounts payable by the defendant---If the wording of S. 9 is read in conjunction with S. 5, it becomes clear that the Banking Court is established to exercise its jurisdiction under the Financial Institutions (Recovery of Finances) Ordinance, 2001.

Other judgments reported in 2023 CLD

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